https://www.taxtmi.com/caselaws?id=60835 A transfer of immovable property pursuant to a decree was not protected as a genuine family arrangement where the property remained the individual asset of the assessee, no antecedent family right or common hotchpotch was shown, and the decree appeared collusive and tax-motivated. An unregistered transfer of immovable property also failed to satisfy the statutory formalities for a valid gift, so it could not be treated as a taxable gift. The valuation adopted by the authorities was left undisturbed, while deductions were confined to proved loans and the exemption allowed only to the extent already granted after set-off of the wife's contribution. en-us Thu, 23 May 1985 00:00:00 +0530 Sat, 08 Jan 2011 12:29:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60835 A transfer of immovable property pursuant to a decree was not protected as a genuine family arrangement where the property remained the individual asset of the assessee, no antecedent family right or common hotchpotch was shown, and the decree appeared collusive and tax-motivated. An unregistered transfer of immovable property also failed to satisfy the statutory formalities for a valid gift, so it could not be treated as a taxable gift. The valuation adopted by the authorities was left undisturbed, while deductions were confined to proved loans and the exemption allowed only to the extent already granted after set-off of the wife's contribution. Case-Laws Income Tax Thu, 23 May 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60835