https://www.taxtmi.com/caselaws?id=8483 "Adequate consideration" under section 64(iv) of the Income-tax Act, 1961 means legally enforceable contractual consideration, not mere love and affection. A transfer by a father to his minor son made only for the son's education, without any reciprocal benefit or enforceable obligation in return, does not satisfy that requirement. The suggested civil duty of a Christian father to maintain a minor child was rejected as a source of consideration, and reference to section 488 of the Code of Criminal Procedure did not alter the position. The resulting income was therefore includible in the transferor's total income. en-us Thu, 11 Nov 1971 00:00:00 +0530 Sun, 26 Apr 2009 22:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8483 "Adequate consideration" under section 64(iv) of the Income-tax Act, 1961 means legally enforceable contractual consideration, not mere love and affection. A transfer by a father to his minor son made only for the son's education, without any reciprocal benefit or enforceable obligation in return, does not satisfy that requirement. The suggested civil duty of a Christian father to maintain a minor child was rejected as a source of consideration, and reference to section 488 of the Code of Criminal Procedure did not alter the position. The resulting income was therefore includible in the transferor's total income. Case-Laws Income Tax Thu, 11 Nov 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8483