https://www.taxtmi.com/caselaws?id=37741 The High Court upheld the Tribunal's decision regarding the transfer of equity shares to a Hindu Undivided Family (HUF) for the benefit of the wife and minor children. The court ruled that merely impressing property as joint family property did not constitute a transfer under section 4(1)(a)(iii) of the Wealth Tax Act. Citing legal precedents and the absence of deemed transfer provisions applicable to the case, the court ruled in favor of the assessee, directing the revenue to bear the costs of the reference. en-us Fri, 18 Aug 1978 00:00:00 +0530 Wed, 31 Mar 2010 17:19:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37741 The High Court upheld the Tribunal's decision regarding the transfer of equity shares to a Hindu Undivided Family (HUF) for the benefit of the wife and minor children. The court ruled that merely impressing property as joint family property did not constitute a transfer under section 4(1)(a)(iii) of the Wealth Tax Act. Citing legal precedents and the absence of deemed transfer provisions applicable to the case, the court ruled in favor of the assessee, directing the revenue to bear the costs of the reference. Case-Laws Wealth-tax Fri, 18 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37741