https://www.taxtmi.com/caselaws?id=15462 A provision set apart for minor daughters was treated as reasonable educational expense and exempt under section 5(1)(xii) of the Gift-tax Act, because the amount was assessed against the family's social and financial position, the period needed for education, and the likely educational costs. The Tribunal's estimate of Rs. 80,000 for each daughter was based on relevant considerations and was not shown to be arbitrary or erroneous. As the amount was regarded as covering education, the alternative question of marriage provision did not need to be examined, and the position favoured the assessee. en-us Wed, 04 Feb 1998 00:00:00 +0530 Thu, 06 Aug 2009 17:06:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15462 A provision set apart for minor daughters was treated as reasonable educational expense and exempt under section 5(1)(xii) of the Gift-tax Act, because the amount was assessed against the family's social and financial position, the period needed for education, and the likely educational costs. The Tribunal's estimate of Rs. 80,000 for each daughter was based on relevant considerations and was not shown to be arbitrary or erroneous. As the amount was regarded as covering education, the alternative question of marriage provision did not need to be examined, and the position favoured the assessee. Case-Laws Income Tax Wed, 04 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15462