Supreme Court of India
Commissioner of Gift Tax, Madras v. N. S. Getty Chettiar
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From the headnote
Gift Tax Act, 1958-Section 2(xii) and 2(xxiv)-Coparcener taking lesser share and allotting greater share to other members-If makes "gift"-Partition, if "transfer of property". In a partition of the properties of a joint Hindu Undivided Family a coparcener took as his share less than what he was entitled to and allotted greater share to the other members of the coparoenery. On the question whether the coparoener could be held to have made a "gift" of a portion of his share of the property to the other members and w"' liable to tax under the Gift Tax Act, 1958. HELD : (i) coparcener in a Hindu
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