2010 (9) TMI 1085

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..... Kumar And H. S. Kempanna, JJ. For the Petittioner : K.V. Aravind , M. V. Seshachala For the Respondent : S. Parthasarathy JUDGMENT N. Kumar, J. Sri Parthasarathy takes nonice for the respondent. 2. These two appeals are preferred against the very same order passed by the Income Tax Appellate Tribunal holding by virtue of the registered document which is styled as family arrange....

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....ng but-a partition. Every member would have an anterior title to the property which is the subject matter of a transaction i.e. partition or a family arrangement. 80 there is adjustment of shares, crystallization of the respective rights in the family properties and therefore it cannot be construed as a transfer in the eye of law. If it is not a transfer, the question whether transfer is for adequ....