AIROnline 2024 SC 750

Supreme Court Of India

(From : AIROnline 2009 MAD 90)

Hon'ble Judge(s): C. T. Ravikumar, Sanjay Karol , JJ

Transfer of Property Act (4 of 1882) , S.122— Stamp Act (2 of 1899) , S.2(24)— Gift or settlement deed - Determination - High Court had reversed concurrent findings of courts below that deed executed in favour of 'G' was a settlement deed and held that the deed was a gift deed - High Court erred in holding that element of 'adequate consideration' was missing and transfer was effected out of love and affection - 'Consideration' need not always be monetary - Settlement was between members of a family and transfer was made in recognition of the fact that 'G' had been taking care of the transferors and would continue to do so while also using the same to carry out charitable work - Further, overturning of concurrent findings was not justified - Judgment of High Court was set aside and findings of Courts below, were restored AIROnline 2009 MAD 90-Reversed (Para 14 15.4 15.5 16.4 17) .....