https://www.taxtmi.com/caselaws?id=40160 A post-appointed-date transfer is saved by the proviso to Section 5(6) of the Uttar Pradesh Imposition of Ceiling on Land Holdings Act, 1960 only if it is in good faith, for adequate consideration, and under an irrevocable instrument. A gift, being a transfer without consideration under the Transfer of Property Act, 1882, does not satisfy that requirement. The expression "adequate consideration" bears its ordinary meaning and requires something more than love and affection; a transaction resting only on affection is excluded. The proviso therefore does not protect a gift or similar non-consideration transfer. en-us Wed, 20 Mar 1991 00:00:00 +0530 Sat, 24 Apr 2010 16:01:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40160 A post-appointed-date transfer is saved by the proviso to Section 5(6) of the Uttar Pradesh Imposition of Ceiling on Land Holdings Act, 1960 only if it is in good faith, for adequate consideration, and under an irrevocable instrument. A gift, being a transfer without consideration under the Transfer of Property Act, 1882, does not satisfy that requirement. The expression "adequate consideration" bears its ordinary meaning and requires something more than love and affection; a transaction resting only on affection is excluded. The proviso therefore does not protect a gift or similar non-consideration transfer. Case-Laws Income Tax Wed, 20 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40160