SHAKUNTLA ETC. ETC. vs STATE OF HARYANA

The Supreme Court upheld the Punjab and Haryana High Court's decision that gifts made under the PEPSU Tenancy and Agricultural Lands Act, 1955, do not qualify as transfers for consideration under Section 32FF. The Court clarified that 'love and affection' does not constitute valid consideration as per the statute. Consequently, the appeals were dismissed, affirming the lower court's ruling that the gifts were not protected under the saving clause of the Act.