https://www.taxtmi.com/caselaws?id=13388 Section 48 of the Madras Marumakkattayam Act creates a presumption that property gifted or bequeathed to a wife alone, or to a wife and children, is tavazhi property unless the deed or surrounding conduct shows a contrary intention. Here, the settlement deed expressly vested absolute ownership in the assessee after her mother's life interest and granted powers of sale, mortgage and gift, which displaced the statutory presumption. The deed was also not accepted as a bona fide family arrangement because the claim was treated as an afterthought and was not supported by the original title documents. On that basis, the transfer of property to family members was treated as a taxable gift. en-us Mon, 22 Jan 2007 00:00:00 +0530 Thu, 28 May 2009 16:21:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13388 Section 48 of the Madras Marumakkattayam Act creates a presumption that property gifted or bequeathed to a wife alone, or to a wife and children, is tavazhi property unless the deed or surrounding conduct shows a contrary intention. Here, the settlement deed expressly vested absolute ownership in the assessee after her mother's life interest and granted powers of sale, mortgage and gift, which displaced the statutory presumption. The deed was also not accepted as a bona fide family arrangement because the claim was treated as an afterthought and was not supported by the original title documents. On that basis, the transfer of property to family members was treated as a taxable gift. Case-Laws Income Tax Mon, 22 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13388