https://www.taxtmi.com/caselaws?id=66972 The Tribunal dismissed the department's appeal, affirming that the transactions were partitions, not gifts, and therefore not subject to tax. The Tribunal emphasized that income-tax authorities cannot declare transactions void unless the concerned parties do so. The Tribunal upheld the AAC's decision that the gifted property was not taxable, as it was part of a partition and not a gift. The Tribunal also noted that the legal character of the transaction must be respected, and the department's argument that the lands were individual properties of the assessee was rejected. en-us Mon, 07 May 1979 00:00:00 +0530 Wed, 25 Jan 2012 16:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66972 The Tribunal dismissed the department's appeal, affirming that the transactions were partitions, not gifts, and therefore not subject to tax. The Tribunal emphasized that income-tax authorities cannot declare transactions void unless the concerned parties do so. The Tribunal upheld the AAC's decision that the gifted property was not taxable, as it was part of a partition and not a gift. The Tribunal also noted that the legal character of the transaction must be respected, and the department's argument that the lands were individual properties of the assessee was rejected. Case-Laws Income Tax Mon, 07 May 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66972