https://www.taxtmi.com/caselaws?id=27087 A transfer from Hindu undivided family assets to a minor daughter made to meet the family's legal obligation to maintain and educate an unmarried daughter was treated as discharge of that obligation, not as a voluntary bounty. Because the provision was reasonable and adequate and made out of joint family assets, the consideration had monetary value and was not illusory. The indirect reduction of the karta's personal liability therefore did not attract the deeming provision for gift, and the transfer was held not to be a gift liable to gift-tax. en-us Fri, 12 Oct 1984 00:00:00 +0530 Wed, 10 Feb 2010 16:12:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27087 A transfer from Hindu undivided family assets to a minor daughter made to meet the family's legal obligation to maintain and educate an unmarried daughter was treated as discharge of that obligation, not as a voluntary bounty. Because the provision was reasonable and adequate and made out of joint family assets, the consideration had monetary value and was not illusory. The indirect reduction of the karta's personal liability therefore did not attract the deeming provision for gift, and the transfer was held not to be a gift liable to gift-tax. Case-Laws Income Tax Fri, 12 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27087