2001 (3) TMI 10 - HC - Income Tax

Summary

The High Court of Madras ruled in favor of the assessee in a case involving a partition between a father and son. The court found that the division of property between the two did not constitute a gift, as the son had a birthright to the property as a coparcener in a Hindu undivided family. The Revenue's appeal was dismissed, and the assessee was awarded costs of Rs.1,500.