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TMI Blog1969 (3) TMI 13X X X X Extracts X X X X X X X X Extracts X X X X ..... f s. 2(xii) r/w s. 2(xxiv) of the GT Act - - - - - Dated:- 17-3-1969 - Judge(s) : VEERASWAMI., RAMAPRASADA RAO. JUDGMENT The judgment of the court was delivered by VEERASWAMI J.-We are of the view that the Tribunal's opinion requires no modification. It turns on whether a provision in the partition deed dated February 8, 1959, for the payment of a sum of Rs. 50,000 to the wife of the kar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n respect of the assessment year 1959-60 with which we are concerned. The family consisted, at the time, of the father, who was the karta, and his two sons, of whom one was a major. The female members of the family were the wife of the karta and his daughter. On February 8, 1959, the family decided to have a partial partition at which the yarn and money-lending business valued at Rs. 5,78,818 was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hould be construed to be a gift. It is pointed out that the provision was not expressly towards maintenance, and any sum which the family gave to be spent by her as she liked cannot be. regarded as anything but a gift, and to say it was for maintenance would be adding to the words. We are not prepared to uphold this view. Obviously, the family was engaged in partial partition of the assets of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is, therefore, not difficult to see that, when a provision was made for payment of Rs. 50,000, it was out of regard for her right of maintenance in the family. We are not here concerned with the question whether the payment was in discharge of her entire right to maintenance or only a partial fulfilment of the obligation. That is another matter. The Tribunal rightly looked to the other terms in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not necessarily to be understood in the strict context of money in specie. That which could eventually or in the ultimate analysis or result be reduced to or converted into money can well be called as something having money's worth. In that sense, the payment had clearly the effect of giving quittance pro tanto to the family obligation to maintain the karta's wife, and such consideration is in mon ..... X X X X Extracts X X X X X X X X Extracts X X X X
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