https://www.taxtmi.com/caselaws?id=28739 The court held that the will created a legal obligation for the assessee to distribute 50% of the income from the 31% share to the daughters. The subsequent declaration of December 7, 1966, was deemed a separate act of donation, establishing an independent legal obligation. The court ruled against the Revenue on various issues, including the conversion of moral to legal obligation and the assignment of 50% share in the profits, ultimately ruling in favor of the assessee and answering the reference with costs. en-us Thu, 17 Jun 1982 00:00:00 +0530 Thu, 25 Feb 2010 12:57:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28739 The court held that the will created a legal obligation for the assessee to distribute 50% of the income from the 31% share to the daughters. The subsequent declaration of December 7, 1966, was deemed a separate act of donation, establishing an independent legal obligation. The court ruled against the Revenue on various issues, including the conversion of moral to legal obligation and the assignment of 50% share in the profits, ultimately ruling in favor of the assessee and answering the reference with costs. Case-Laws Income Tax Thu, 17 Jun 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28739