https://www.taxtmi.com/caselaws?id=69353 Admission of a spouse as a partner for capital contribution and sharing of losses was treated as supported by consideration, so the arrangement did not amount to a taxable gift. The claimed exemption for payments to a daughter as marriage gifts failed because the marriage had occurred about two years earlier and no contemporaneous evidence established that the payments were made on the occasion of marriage. A later account narration was held insufficient to prove the required nexus. The tax view was therefore sustained on both issues. en-us Tue, 02 Mar 1982 00:00:00 +0530 Tue, 10 May 2011 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69353 Admission of a spouse as a partner for capital contribution and sharing of losses was treated as supported by consideration, so the arrangement did not amount to a taxable gift. The claimed exemption for payments to a daughter as marriage gifts failed because the marriage had occurred about two years earlier and no contemporaneous evidence established that the payments were made on the occasion of marriage. A later account narration was held insufficient to prove the required nexus. The tax view was therefore sustained on both issues. Case-Laws Income Tax Tue, 02 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69353