https://www.taxtmi.com/caselaws?id=58936 A beneficiary's beneficial interest in trust property was treated as transferable where the trust deed imposed no restraint, and the assignment did not alter the trustees' obligations under the trust; it was therefore not invalid merely because it reduced tax exposure. The analysis also recognised that a sole surviving coparcener, acting as karta, could validly gift the family's remainder interest in the trust corpus, subject to ordinary limitations on alienation. The revenue, being a stranger to the family, had no locus to impeach that transfer, and the arrangement was not invalidated by perpetuity concerns or by the fact that it produced wealth-tax relief. en-us Mon, 24 Jun 1985 00:00:00 +0530 Wed, 22 Dec 2010 18:56:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58936 A beneficiary's beneficial interest in trust property was treated as transferable where the trust deed imposed no restraint, and the assignment did not alter the trustees' obligations under the trust; it was therefore not invalid merely because it reduced tax exposure. The analysis also recognised that a sole surviving coparcener, acting as karta, could validly gift the family's remainder interest in the trust corpus, subject to ordinary limitations on alienation. The revenue, being a stranger to the family, had no locus to impeach that transfer, and the arrangement was not invalidated by perpetuity concerns or by the fact that it produced wealth-tax relief. Case-Laws Wealth-tax Mon, 24 Jun 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58936