https://www.taxtmi.com/caselaws?id=36069 A karta may make valid gifts of HUF movable property to near relatives within reasonable limits out of love and affection; such a gift is not void merely because it is made from HUF funds, though an excessive gift may be voidable at the instance of coparceners. Section 64(1) of the Income-tax Act, 1961 applies only to the specified partnership-linked income of a spouse or minor child and does not, by itself, cover ordinary gifts; on the stated facts, it did not apply. Cross-gifts require clear proof of a connected reciprocal arrangement, and they were negatived here because the gifts were unequal, separated in time, and lacked proved interconnection. en-us Mon, 10 Dec 1979 00:00:00 +0530 Fri, 19 Mar 2010 11:47:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36069 A karta may make valid gifts of HUF movable property to near relatives within reasonable limits out of love and affection; such a gift is not void merely because it is made from HUF funds, though an excessive gift may be voidable at the instance of coparceners. Section 64(1) of the Income-tax Act, 1961 applies only to the specified partnership-linked income of a spouse or minor child and does not, by itself, cover ordinary gifts; on the stated facts, it did not apply. Cross-gifts require clear proof of a connected reciprocal arrangement, and they were negatived here because the gifts were unequal, separated in time, and lacked proved interconnection. Case-Laws Income Tax Mon, 10 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36069