Chennai Court November 1998 Judgments

Deivanaiammal and ors. Vs. Commissioner of Gift Tax

Court: Chennai

Reported in: (2001)165CTR(Mad)362

ORDERR. Jayasimha Babu, J.These references have been pending in this court for the last 18 years. The assessment year is 1972-73'. There are two references. One at the instance of the assessee and the other at the instance of the revenue . The questions referred are'1. Whether, on the facts and in the circumstances of the case, the document dated 15th Sept., 1971, is only a gift deed and not a deed of family arrangement.2. Whether, on the facts and in the circumstances of the case, the settlement of certain lands by the assessee to his wife and to his mother to be enjoyed by them for life, was in lieu of maintenance and so the settlement cannot be viewed as without consideration and correspondingly no gift could as inferred from the said transaction.3. Whether, on the facts and in the circumstances of the case, no gift-tax could be levied on the value of the life interest conferred by the assessee to his wife and to his mother ?'The document dated 1-9-1971, was executed by one Ramasamy...