https://www.taxtmi.com/caselaws?id=10293 Privy purse paid under a covenant with the Government of India was treated as consideration for surrender of ruling powers and dissolution of the State as a separate unit, so it did not form part of the ancestral impartible estate or Hindu undivided family property. By contrast, ancestral impartible agricultural lands remained joint family property to the extent recognised by law, and the holder could validly transfer them by gift unless special custom or tenure excluded that power. The rule in Tej Nath, which concerned ordinary Mitakshara coparcenary property, was held inapplicable. Transfers described as family arrangements were therefore not exempt from gift-tax merely because the estate was impartible. en-us Thu, 20 May 2004 00:00:00 +0530 Mon, 13 Jul 2009 10:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10293 Privy purse paid under a covenant with the Government of India was treated as consideration for surrender of ruling powers and dissolution of the State as a separate unit, so it did not form part of the ancestral impartible estate or Hindu undivided family property. By contrast, ancestral impartible agricultural lands remained joint family property to the extent recognised by law, and the holder could validly transfer them by gift unless special custom or tenure excluded that power. The rule in Tej Nath, which concerned ordinary Mitakshara coparcenary property, was held inapplicable. Transfers described as family arrangements were therefore not exempt from gift-tax merely because the estate was impartible. Case-Laws Income Tax Thu, 20 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10293