https://www.taxtmi.com/caselaws?id=7538 A release deed between coparceners was analysed for its true character under the Estate Duty Act and held to be, in substance, a partition of joint Hindu family property. Partition converts joint enjoyment into enjoyment in severalty and does not involve a transfer or disposition of interest between coparceners, so section 27(1) and section 9(1) were not attracted. Explanation 2 to section 2(15) also did not apply, because partition does not amount to extinguishment of a debt or other right at the expense of the deceased. The revenue could not recharacterise the arrangement as a partial relinquishment merely because the value of the share later differed in departmental assessment. en-us Thu, 26 Sep 1968 00:00:00 +0530 Wed, 25 Feb 2009 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7538 A release deed between coparceners was analysed for its true character under the Estate Duty Act and held to be, in substance, a partition of joint Hindu family property. Partition converts joint enjoyment into enjoyment in severalty and does not involve a transfer or disposition of interest between coparceners, so section 27(1) and section 9(1) were not attracted. Explanation 2 to section 2(15) also did not apply, because partition does not amount to extinguishment of a debt or other right at the expense of the deceased. The revenue could not recharacterise the arrangement as a partial relinquishment merely because the value of the share later differed in departmental assessment. Case-Laws Income Tax Thu, 26 Sep 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7538