P. CHANDRA REDDY, C. J, J.

( 1 ) THIS reference involves the proper interpretation of clauses (xii) and (xxiv) of Section 2 read with Sections 3 and 4 of the Gift Tax Act, 1958 (hereinafter referred to as the Act ). The question we are required to answer in this reference is formulated in these words :"whether/ the declaration by which Sri C. Malakondiah has impressed the character of a joint Hindu family property on the self-acquired properties owned by him amounts to a transfer so as to attract the provisions of the Gift-tax Act. "

( 2 ) THE fact giving rise to this reference lie in a short compass and may be stated as follows : - One Sri C. Malakondiah, who was the manager of joint Hindu family consisting of himself and his five sons, thought of throwing his self-acquisitions into common stock. This result he wanted to achieve by a declaration executed on the 1/05/1957. It reads as follows :"having intended and resolved to convert all the properties owned by me into joint family properties of myself and my five undivided sons, I hereby give effect to my intention and resolution by declaring that from now all my properties will be joint family properties of myself and my wife undiv

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