https://www.taxtmi.com/caselaws?id=61133 A gift made by a karta of a Hindu undivided family to his daughters, within reasonable limits, was treated as valid. On that basis, interest credited on deposits representing the gifted amounts could not be assessed as the assessee's income merely by disputing the validity of the gifts. The Tribunal followed its earlier view on identical facts and held that the addition of the interest amounts was not sustainable. The deletion of the addition was therefore upheld in favour of the assessee. en-us Fri, 25 Jan 1980 00:00:00 +0530 Tue, 11 Jan 2011 10:40:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61133 A gift made by a karta of a Hindu undivided family to his daughters, within reasonable limits, was treated as valid. On that basis, interest credited on deposits representing the gifted amounts could not be assessed as the assessee's income merely by disputing the validity of the gifts. The Tribunal followed its earlier view on identical facts and held that the addition of the interest amounts was not sustainable. The deletion of the addition was therefore upheld in favour of the assessee. Case-Laws Income Tax Fri, 25 Jan 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61133