https://www.taxtmi.com/caselaws?id=6792 Blending self-acquired property into a Hindu undivided family's common stock does not constitute a gift under the Gift-tax Act, 1958. Although a gift generally involves a voluntary transfer without consideration, blending involves the owner relinquishing separate rights and impressing the property with joint family character, rather than transferring it between distinct juristic entities. The inclusive meaning of transfer of property does not deem a non-transfer to be a transfer. Partition similarly does not involve transfer. The deemed-gift provision for appropriation of vested joint property does not apply where separate property is blended into common stock; consequently, gift-tax is not attracted on that basis. en-us Thu, 12 Jan 1967 00:00:00 +0530 Mon, 02 Feb 2009 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6792 Blending self-acquired property into a Hindu undivided family's common stock does not constitute a gift under the Gift-tax Act, 1958. Although a gift generally involves a voluntary transfer without consideration, blending involves the owner relinquishing separate rights and impressing the property with joint family character, rather than transferring it between distinct juristic entities. The inclusive meaning of transfer of property does not deem a non-transfer to be a transfer. Partition similarly does not involve transfer. The deemed-gift provision for appropriation of vested joint property does not apply where separate property is blended into common stock; consequently, gift-tax is not attracted on that basis. Case-Laws Income Tax Thu, 12 Jan 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6792