https://www.taxtmi.com/caselaws?id=176162 A recurring payment imposed by registered and legally enforceable indentures was treated as a valid annual charge on property, because the assessees were bound to make the yearly payment and it was not a mere voluntary application of income. The absence of pecuniary consideration did not defeat the arrangement, as natural love and affection could support the obligation under contract law. The payment therefore fell within the property-income deduction provision and was deductible from property income. en-us Tue, 16 Mar 1948 00:00:00 +0530 Tue, 15 Dec 2015 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176162 A recurring payment imposed by registered and legally enforceable indentures was treated as a valid annual charge on property, because the assessees were bound to make the yearly payment and it was not a mere voluntary application of income. The absence of pecuniary consideration did not defeat the arrangement, as natural love and affection could support the obligation under contract law. The payment therefore fell within the property-income deduction provision and was deductible from property income. Case-Laws Income Tax Tue, 16 Mar 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176162