https://www.taxtmi.com/caselaws?id=39736 An irrevocable settlement of property made to maintain and educate minor children was held not to be a transfer for adequate consideration where the consideration was not measurable in money or money's worth. The father's natural and legal obligation to support his minor children did not, by itself, convert the transfer into one made for adequate consideration. As the property was permanently transferred but the income continued to arise from assets settled on the minors otherwise than for adequate consideration, the anti-avoidance provisions applied and the income was includible in the transferor's total income. en-us Thu, 15 Nov 1973 00:00:00 +0530 Tue, 20 Apr 2010 10:21:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39736 An irrevocable settlement of property made to maintain and educate minor children was held not to be a transfer for adequate consideration where the consideration was not measurable in money or money's worth. The father's natural and legal obligation to support his minor children did not, by itself, convert the transfer into one made for adequate consideration. As the property was permanently transferred but the income continued to arise from assets settled on the minors otherwise than for adequate consideration, the anti-avoidance provisions applied and the income was includible in the transferor's total income. Case-Laws Income Tax Thu, 15 Nov 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39736