https://www.taxtmi.com/caselaws?id=70670 A bona fide family settlement that reallocates joint family property to resolve possible disputes and recognises antecedent claims does not amount to a transfer for gift-tax purposes. Where a daughter receives property under such an arrangement, and the later Stridhan arrangement merely gives effect to that prior settlement, the allotment remains consistent with her coparcenary rights under the amended Hindu Succession law in Tamil Nadu. The property therefore falls outside the charge of gift-tax and is not treated as a taxable gift. en-us Mon, 31 Jul 2006 00:00:00 +0530 Mon, 18 Apr 2011 14:23:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70670 A bona fide family settlement that reallocates joint family property to resolve possible disputes and recognises antecedent claims does not amount to a transfer for gift-tax purposes. Where a daughter receives property under such an arrangement, and the later Stridhan arrangement merely gives effect to that prior settlement, the allotment remains consistent with her coparcenary rights under the amended Hindu Succession law in Tamil Nadu. The property therefore falls outside the charge of gift-tax and is not treated as a taxable gift. Case-Laws Income Tax Mon, 31 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70670