https://www.taxtmi.com/caselaws?id=39582 A Hindu karta's gift of joint family property to his minor daughters was valid only to the extent of a reasonable provision for maintenance or marriage, judged by the family's financial position and surrounding circumstances. Gifts extending to an extravagant or substantial part of the estate were outside that power and therefore void against persons other than coparceners. On the facts, gifts covering about 25 acres out of 44.44 acres exceeded reasonable limits, so they were void under personal law. Because gift-tax liability depends on the legal effect of the transaction, a void disposition could not be taxed as a completed gift on its full value or broken up into notional valid gifts. en-us Wed, 12 Jun 1974 00:00:00 +0530 Mon, 19 Apr 2010 10:10:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39582 A Hindu karta's gift of joint family property to his minor daughters was valid only to the extent of a reasonable provision for maintenance or marriage, judged by the family's financial position and surrounding circumstances. Gifts extending to an extravagant or substantial part of the estate were outside that power and therefore void against persons other than coparceners. On the facts, gifts covering about 25 acres out of 44.44 acres exceeded reasonable limits, so they were void under personal law. Because gift-tax liability depends on the legal effect of the transaction, a void disposition could not be taxed as a completed gift on its full value or broken up into notional valid gifts. Case-Laws Income Tax Wed, 12 Jun 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39582