https://www.taxtmi.com/caselaws?id=36944 The court upheld the validity of the gift of 35 shares by the assessee to his minor son, ruling that the inclusion of dividend income on the gifted shares in the assessee's assessment was not required. The gift was deemed permissible under Hindu law principles regarding gifts of ancestral movable property within reasonable limits for pious purposes. As the gift was not challenged by other coparceners, it was considered valid, leading to a positive resolution of the case and a consolidated cost awarded to the assessee. Justice SHIVESHWAR PRASAD SINHA concurred with the decision, providing unanimous support. en-us Tue, 30 Oct 1979 00:00:00 +0530 Thu, 25 Mar 2010 15:33:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36944 The court upheld the validity of the gift of 35 shares by the assessee to his minor son, ruling that the inclusion of dividend income on the gifted shares in the assessee's assessment was not required. The gift was deemed permissible under Hindu law principles regarding gifts of ancestral movable property within reasonable limits for pious purposes. As the gift was not challenged by other coparceners, it was considered valid, leading to a positive resolution of the case and a consolidated cost awarded to the assessee. Justice SHIVESHWAR PRASAD SINHA concurred with the decision, providing unanimous support. Case-Laws Income Tax Tue, 30 Oct 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36944