https://www.taxtmi.com/caselaws?id=59047 A beneficiary's beneficial interest in trust property is transferable under section 58 of the Indian Trusts Act unless the trust deed or some other law restricts that right, and trustees need only recognise the assignee without varying the trust terms. A transfer is not invalid merely because it reduces future wealth-tax exposure, provided it is otherwise lawful and not a colourable device. A sole surviving coparcener and karta of a Hindu undivided family may also validly alienate the HUF's property interest, and the Revenue cannot impeach such a gift absent a legal prohibition or a challenge available only to family members. en-us Mon, 24 Jun 1985 00:00:00 +0530 Thu, 23 Dec 2010 16:54:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59047 A beneficiary's beneficial interest in trust property is transferable under section 58 of the Indian Trusts Act unless the trust deed or some other law restricts that right, and trustees need only recognise the assignee without varying the trust terms. A transfer is not invalid merely because it reduces future wealth-tax exposure, provided it is otherwise lawful and not a colourable device. A sole surviving coparcener and karta of a Hindu undivided family may also validly alienate the HUF's property interest, and the Revenue cannot impeach such a gift absent a legal prohibition or a challenge available only to family members. Case-Laws Wealth-tax Mon, 24 Jun 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59047