https://www.taxtmi.com/caselaws?id=7641 A voluntary conversion of self-acquired property into joint family property was treated as a transfer within the wide definition of "transfer of property" in section 2(xxiv), because a Hindu undivided family is a "person" under section 2(xviii) and the property passed from one person to another. As the conversion was made without consideration in money or money's worth, the essential elements of "gift" under section 2(xii) were satisfied. The act of impressing self-acquired property with the character of joint family property therefore fell within the Gift-tax Act, 1958 as a taxable gift. en-us Fri, 03 Oct 1969 00:00:00 +0530 Tue, 17 Mar 2009 08:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7641 A voluntary conversion of self-acquired property into joint family property was treated as a transfer within the wide definition of "transfer of property" in section 2(xxiv), because a Hindu undivided family is a "person" under section 2(xviii) and the property passed from one person to another. As the conversion was made without consideration in money or money's worth, the essential elements of "gift" under section 2(xii) were satisfied. The act of impressing self-acquired property with the character of joint family property therefore fell within the Gift-tax Act, 1958 as a taxable gift. Case-Laws Income Tax Fri, 03 Oct 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7641