JUDGMENT

KRISHNA IYER, J.:—We regard the single point, persuasively presented by the learned Solicitor General on behalf of the petitioner (The Commissioner of Income-tax, Andhra Pradesh), as deserving of a speaking order, although in dissent, since the question may arise again and needs to be silenced.

2. Briefly, the facts. Four brothers, members of a coparcenary, partitioned their family properties, leaving in common a large house in the occupation of their mother. The eldest, who is respondent before us, sold his own house at a price sufficient to attract handsome capital gains tax, but he pre-empted the demand for tax by acquiring the common house from his three brothers who executed three release deeds for a consideration of Rs.30,000 each, adjusted towards the extra share (Jeshtabhaga) agreed to be given to the eldest by the next three. It is common ground that if these release deeds did amount to purchase of the house, S.54 (1) of the Income-tax Act, 1961, would save the respondent from exigibility to tax. So the short question, neatly identified by the learned Solicitor General is whether release deeds by sharers in favour of one of them whereby the joint ownership of all b