https://www.taxtmi.com/caselaws?id=17218 A valid family settlement requires an antecedent title, claim or interest in the disputed property; mere loans advanced by the wife and sons did not create such interest. As the property was treated throughout as the assessee's self-acquired property, the civil court decree was found collusive and not a bona fide family arrangement. A transfer of that property to family members without adequate consideration therefore fell within the deeming provision for gifts, and the transfer was treated as a deemed gift. The finding that no valid family settlement existed was upheld against the assessee. en-us Tue, 20 May 1997 00:00:00 +0530 Sat, 19 Sep 2009 11:13:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17218 A valid family settlement requires an antecedent title, claim or interest in the disputed property; mere loans advanced by the wife and sons did not create such interest. As the property was treated throughout as the assessee's self-acquired property, the civil court decree was found collusive and not a bona fide family arrangement. A transfer of that property to family members without adequate consideration therefore fell within the deeming provision for gifts, and the transfer was treated as a deemed gift. The finding that no valid family settlement existed was upheld against the assessee. Case-Laws Income Tax Tue, 20 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17218