1982 (5) TMI 115

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....ng. 2. Assessee is a HUF. Financial years are the previous years. Karta of the assessee had, as per deed dt. 1st April, 1972, gifted certain immovable property belonging to the assessee in favour of Karta's daughter-in-law. Learned ITO took the view that the said gift was void under Hindu Law. Value of the gifted property was Rs. 53,000. 3. On appeal, ld. AAC found that the gift in question ....

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....a could not be said excessive or unreasonable. 5. Learned Deptl. Rep. referred me to CGT vs. R.M.D.M. Ranganathan Chettiar (1982) 133 ITR 890 (Mad) for the proposition that gift of ancestral immovable property by the Karta of HUF in favour of a member of the joint family was void. It was urged that in the case of Braham Dutt, relied on by the AAC only an alienation of movable property was invol....