1969 (12) TMI 120

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....concerned in these proceedings is the individual property of the assessee or the property of his family. 2. The Income-tax Officer, the Appellate Assistant Commissioner, the Income-tax Appellate Tribunal, as well as the High Court have concurrently come to the conclusion that it is the absolute property of the assessee. The assessee is contesting that finding. 3. It is established that the a....

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....s a partition deed, it is clear from its terms that it is a gift deed. It is stated therein in clear terms that the property belonged to Sri Srinivasachariar, the father of the assessee, and that it is he who had put up the foundations of the houses therein. The document further stipulates, that if the assessee or his brother desires to alienate the property given to them, they should give prefere....