https://www.taxtmi.com/caselaws?id=40204 The transaction recorded in the 11 February 1965 partition deed was treated as a partition of coparcenary property, not a gift liable to gift-tax, because the assessee had earlier obtained most properties through family partition and the remaining assets were also held to form part of the family corpus. The Tribunal's finding that the family earnings provided the nucleus for later acquisitions meant the entire property covered by the deed was coparcenary property. On that factual basis, the deed effected a division of joint family property rather than a taxable transfer by gift, and the broader personal law question was left undecided. en-us Tue, 09 Apr 1996 00:00:00 +0530 Wed, 09 Jul 2014 16:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40204 The transaction recorded in the 11 February 1965 partition deed was treated as a partition of coparcenary property, not a gift liable to gift-tax, because the assessee had earlier obtained most properties through family partition and the remaining assets were also held to form part of the family corpus. The Tribunal's finding that the family earnings provided the nucleus for later acquisitions meant the entire property covered by the deed was coparcenary property. On that factual basis, the deed effected a division of joint family property rather than a taxable transfer by gift, and the broader personal law question was left undecided. Case-Laws Income Tax Tue, 09 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40204