https://www.taxtmi.com/caselaws?id=22306 The High Court of Gujarat upheld the validity of the deed of assignment executed by the assessee, ruling that only half of the income from the residuary property should be taxed in the assessment years 1970-71 and 1971-72. The Court determined that the assessee had the legal right to transfer half of the income to his children as per the terms of the will, and the deed of assignment was deemed valid. Consequently, the assessee was assessed only for half of the income from the residuary property, leading to a decision in favor of the assessee and against the Revenue. en-us Mon, 10 Jun 1991 00:00:00 +0530 Wed, 09 Dec 2009 11:06:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22306 The High Court of Gujarat upheld the validity of the deed of assignment executed by the assessee, ruling that only half of the income from the residuary property should be taxed in the assessment years 1970-71 and 1971-72. The Court determined that the assessee had the legal right to transfer half of the income to his children as per the terms of the will, and the deed of assignment was deemed valid. Consequently, the assessee was assessed only for half of the income from the residuary property, leading to a decision in favor of the assessee and against the Revenue. Case-Laws Income Tax Mon, 10 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22306