https://www.taxtmi.com/caselaws?id=35663 A gift of HUF movable property by a Mitakshara karta to his wife was treated as a gift made by the karta in his individual capacity, because Hindu law recognises a father-coparcener's limited power to make gifts out of affection within reasonable limits. The relevant enquiry for Gift-tax Act exemption was the nature of the gift and the capacity in which it was made, not the form of the return or the fact that the property belonged to the HUF. On that basis, the gift qualified for deduction under section 5(1)(viii) of the Gift-tax Act, 1958, and the reference was answered in favour of the assessee. en-us Thu, 11 Dec 1980 00:00:00 +0530 Mon, 15 Mar 2010 18:38:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35663 A gift of HUF movable property by a Mitakshara karta to his wife was treated as a gift made by the karta in his individual capacity, because Hindu law recognises a father-coparcener's limited power to make gifts out of affection within reasonable limits. The relevant enquiry for Gift-tax Act exemption was the nature of the gift and the capacity in which it was made, not the form of the return or the fact that the property belonged to the HUF. On that basis, the gift qualified for deduction under section 5(1)(viii) of the Gift-tax Act, 1958, and the reference was answered in favour of the assessee. Case-Laws Income Tax Thu, 11 Dec 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35663