https://www.taxtmi.com/caselaws?id=28984 A relinquishment by a Hindu undivided family member of his interest in family business for consideration below the full value of his share may create a deemed disposition in favour of the remaining members. Applying Supreme Court precedent, the court held that the deficiency between the full value of the share and the amount accepted can attract the estate duty provisions on deemed transfers under the Estate Duty Act, and the Tribunal's view that the transaction was merely a partial partition was inconsistent with that interpretation. The addition to the estate was therefore sustained. en-us Fri, 25 Feb 1983 00:00:00 +0530 Tue, 09 Mar 2010 12:06:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28984 A relinquishment by a Hindu undivided family member of his interest in family business for consideration below the full value of his share may create a deemed disposition in favour of the remaining members. Applying Supreme Court precedent, the court held that the deficiency between the full value of the share and the amount accepted can attract the estate duty provisions on deemed transfers under the Estate Duty Act, and the Tribunal's view that the transaction was merely a partial partition was inconsistent with that interpretation. The addition to the estate was therefore sustained. Case-Laws Income Tax Fri, 25 Feb 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28984