TMI Blog1971 (3) TMI 25X X X X Extracts X X X X X X X X Extracts X X X X ..... the case, the act of throwing self-acquired property by the assessee into common hotchpotch of the Hindu undivided family with the intention of abandoning their rights in that property amounted to a gift within the meaning of the term 'gift' as defined in the Gift-tax Act, 1958 ?" The case relates to two assessees, Shmt. Sharbati Devi and Munshi Lal. The assessment year concerned is 1965-66, corresponding to the previous-year which ended on March 31, 1965. The two assessees held one-half share each in a building situated in Ram Nagar, Delhi. During the previous year, each of the two assessees impressed his or her share in the said property with the character of joint family property. Question arose whether the assessees were liable to pay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tely necessary before a coparrener can throw into the common stock his self-acquired properties. The separate property of a member of a joint Hindu family may be impressed with the character of joint family property if it is voluntarily thrown by him into the common stock with the intention of abandoning his separate claim therein. The separate property of a Hindu ceases to be separate property and acquires the characteristics of joint family or ancestral property not by any physical mixing with his joint family or his ancestral property but by his own volition and intention by his waiving and surrendering his separate rights in it as separate property. The act by which the coparcener throws his separate property in the common stock is a un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e property with the character of joint family property would not bring the case within the ambit of the decision of the Supreme Court in Goli Eswariah's case. According to Mr. Sharma, the act of Shrimati Sharbati Devi in throwing her one-half share in the common hotchpotch would be tantamount to transfer of property as contemplated by section 2(xxiv)(d) of the Gift-tax Act. According to that definition, "transfer of property" means any disposition, conveyance, assignment, settlement, delivery, payment or other alienation of property and, without limiting the generality of the foregoing, includes : " (d) any transaction entered into by any person with intent thereby to diminish directly or indirectly the value of his own property an to inc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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