https://www.taxtmi.com/caselaws?id=37972 The court held that the gifts of immovable properties by the karta to his minor daughters were valid under Hindu law. The income from these properties was not to be included in the assessee-family's income for tax purposes, as valid gifts transfer ownership and income to the donees. Similarly, the value of the gifted properties was not to be included in the wealth-tax assessment of the assessee-family. The judgment emphasized the validity of reasonable gifts fulfilling moral obligations under Hindu law, extending beyond the traditional context of marriage. The court directed the revenue to pay the costs of the references to the assessee, affirming the correctness of the Tribunal's decisions. en-us Tue, 18 Oct 1977 00:00:00 +0530 Fri, 02 Apr 2010 13:23:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37972 The court held that the gifts of immovable properties by the karta to his minor daughters were valid under Hindu law. The income from these properties was not to be included in the assessee-family's income for tax purposes, as valid gifts transfer ownership and income to the donees. Similarly, the value of the gifted properties was not to be included in the wealth-tax assessment of the assessee-family. The judgment emphasized the validity of reasonable gifts fulfilling moral obligations under Hindu law, extending beyond the traditional context of marriage. The court directed the revenue to pay the costs of the references to the assessee, affirming the correctness of the Tribunal's decisions. Case-Laws Income Tax Tue, 18 Oct 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37972