https://www.taxtmi.com/caselaws?id=69139 The Tribunal ruled in favor of the assessees, annulling the gift-tax assessments on the conveyance of properties in trust for creditors. It determined that the conveyance was part of a family arrangement aimed at saving the family from debt and protecting family honor. The Tribunal emphasized the distinction between gifts and transactions arising from family arrangements, ultimately highlighting the importance of family arrangements in resolving disputes and safeguarding family interests. en-us Thu, 26 Nov 1987 00:00:00 +0530 Tue, 05 Apr 2011 13:45:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69139 The Tribunal ruled in favor of the assessees, annulling the gift-tax assessments on the conveyance of properties in trust for creditors. It determined that the conveyance was part of a family arrangement aimed at saving the family from debt and protecting family honor. The Tribunal emphasized the distinction between gifts and transactions arising from family arrangements, ultimately highlighting the importance of family arrangements in resolving disputes and safeguarding family interests. Case-Laws Income Tax Thu, 26 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69139