https://www.taxtmi.com/caselaws?id=67323 A family settlement by a Hindu undivided family Karta for his daughters was treated as non-taxable because the amounts were referable to maintenance, education, marriage expenses, and family shares rather than a gratuitous transfer. The settlement deed was read as a whole to determine the executant's intention, and the sums allotted to unmarried daughters were treated as earmarked for family obligations. The amounts given to married daughters were described as their share and not as gifts. Even assuming any gift element, the only taxable transfer in the year fell within the basic exemption under the Gift-tax Act, 1958, so no gift-tax was chargeable. en-us Thu, 31 May 1979 00:00:00 +0530 Thu, 10 Mar 2011 10:43:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67323 A family settlement by a Hindu undivided family Karta for his daughters was treated as non-taxable because the amounts were referable to maintenance, education, marriage expenses, and family shares rather than a gratuitous transfer. The settlement deed was read as a whole to determine the executant's intention, and the sums allotted to unmarried daughters were treated as earmarked for family obligations. The amounts given to married daughters were described as their share and not as gifts. Even assuming any gift element, the only taxable transfer in the year fell within the basic exemption under the Gift-tax Act, 1958, so no gift-tax was chargeable. Case-Laws Income Tax Thu, 31 May 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67323