https://www.taxtmi.com/caselaws?id=19929 The High Court upheld the Tribunal's decision that a gift made by a Hindu undivided family to a nephew was void ab initio. The Court ruled that the donee, acting as a trustee, was liable for the actual interest earned from the gifted amount. The Court rejected the contention of ratification by a minor coparcener and affirmed the Tribunal's assessment of actual interest earned by the donee as income to the assessee. The Court found the questions raised by the assessee to be irrelevant and ruled in favor of the Revenue, holding the answers to the questions raised by the assessee to be against them. en-us Thu, 20 Jan 1994 00:00:00 +0530 Tue, 10 Nov 2009 16:43:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19929 The High Court upheld the Tribunal's decision that a gift made by a Hindu undivided family to a nephew was void ab initio. The Court ruled that the donee, acting as a trustee, was liable for the actual interest earned from the gifted amount. The Court rejected the contention of ratification by a minor coparcener and affirmed the Tribunal's assessment of actual interest earned by the donee as income to the assessee. The Court found the questions raised by the assessee to be irrelevant and ruled in favor of the Revenue, holding the answers to the questions raised by the assessee to be against them. Case-Laws Income Tax Thu, 20 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19929