https://www.taxtmi.com/caselaws?id=25652 Blending separate property into the common hotchpot of a Hindu undivided family was treated as a deemed gift under the Gift-tax Act, because section 4(2), inserted by the Finance (No. 2) Act, 1971, expressly brought such conversion within the definition of gift to the extent of the other members' share on partition. The charging provision applied for the assessment year on the basis of the law in force on the first day of that year, so the amended provisions governed assessment year 1972-73. The transaction was therefore chargeable to gift-tax under sections 2(xii), 3 and 4(2). en-us Tue, 20 Jan 1987 00:00:00 +0530 Sat, 30 Jan 2010 10:26:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25652 Blending separate property into the common hotchpot of a Hindu undivided family was treated as a deemed gift under the Gift-tax Act, because section 4(2), inserted by the Finance (No. 2) Act, 1971, expressly brought such conversion within the definition of gift to the extent of the other members' share on partition. The charging provision applied for the assessment year on the basis of the law in force on the first day of that year, so the amended provisions governed assessment year 1972-73. The transaction was therefore chargeable to gift-tax under sections 2(xii), 3 and 4(2). Case-Laws Income Tax Tue, 20 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25652