Gift - Year 2003 - Judgments

Jul 05 2003 (TRI)

Gift Tax Officer Vs. Deep Surgical Centre

Court: Income Tax Appellate Tribunal ITAT Chandigarh

Decided on: Jul-05-2003

Reported in: (2004)87TTJ(Chd.)430

..... sale transaction entered into by the assessee within the mischief of gift are attracted in this case even otherwise it is submitted that ..... exceeds the value of consideration shall be deemed to be a gift made by the transferror thus according to the gto in ..... the provisions under section 4 1 a should not attract the gift tax therefore was not chargeable before us learned departmental representative for .....

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Apr 24 2003 (TRI)

Rajendra Singh Vs. Assistant Commissioner of Gift

Court: Income Tax Appellate Tribunal ITAT Lucknow

Decided on: Apr-24-2003

Reported in: (2003)80TTJLuck625

..... department we consider it proper to narrate some additional facts relating to determination of taxable gift in the other connected cases of the group to which the assessee belonged because in ..... of the learned senior departmental representative that the case of shelat relates to transaction of gifts and therefore distinguishable cannot be accepted because we are concerned with the mode of transfer .....

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Oct 28 2003 (HC)

Commissioner of Gift Tax Vs. Banshilal Narsidas

Court: Madhya Pradesh

Decided on: Oct-28-2003

Reported in: (2004)190CTR(MP)145; [2004]270ITR231(MP); 2004(1)MPHT127

..... has a right to dispose of the property by way of gift under certain circumstances if circumstances or conditions precedent are satisfied the ..... aforesaid passages in extenso to highlight that if the karta has gifted jewellery to his wife from the hindu undivided family and he ..... individually but in the present case the material clearly show that gift was given by the karta out of affection and there was .....

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Apr 30 2003 (HC)

Commissioner of Gift-tax Vs. Gautam Sarabhai Ltd.

Court: Gujarat

Decided on: Apr-30-2003

Reported in: [2003]263ITR602(Guj)

..... it was held that this was clearly a gift or at least a deemed gift the gift tax officer observed that gautam sarabhai the director ..... and the company the tribunal therefore held that no taxable gift or deemed gift under section 4 c was proved to have been made ..... is bona fide there would arise no question of any deemed gift made by the person responsible for such release discharge or surrender .....

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May 03 2003 (HC)

Commissioner of Gift Tax Vs. Nandkishore Sakarlal

Court: Gujarat

Decided on: May-03-2003

Reported in: (2003)184CTR(Guj)27; [2003]264ITR453(Guj)

..... in force relating to transfer of property to or by companies associations or boi 122 gift defined gift is the transfer of certain existing movable or immovable property made voluntarily and without ..... transfer or conversion of any property referred to in section 4 deemed to be a gift under that section xxxxxx xxxiv transfer of property means any disposition conveyance assignment settlement delivery .....

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Sep 25 2003 (HC)

Wg. Cmdr. A.G. Mathews (Retd.) Vs. Commissioner of Gift Tax

Court: Kerala

Decided on: Sep-25-2003

Reported in: (2004)186CTR(Ker)331; [2004]269ITR149(Ker)

..... circumstances of the case the tribunal should have upheld that deemed gift theory was not applicable to the sale of the unquoted ..... argued for the acceptance of the case that there is no gift involved in the transaction ultimately the counsel submitted that the ..... of wealth tax rules whether tribunal should have upheld that deemed gift theory not applicable to sale of unquoted shares made on compelling .....

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Apr 25 2003 (SC)

Sree Narayana Chandrika Trust Vs. Commissioner of Gift Tax, Kerala

Court: Supreme Court of India

Decided on: Apr-25-2003

Reported in: (2003)181CTR(SC)395; [2003]261ITR279(SC); 2003(2)KLT683(SC); 2003(4)SCALE333; (2003)11SCC350; [2003]3SCR958

..... are concerned the transaction would amount to a taxable gift under the gift tax 12 the judgment of this court in b ..... challenged the assessment order by appeal before the commissioner of gift tax appeals two contentions were urged by the appellant ..... for inadequate consideration and therefore the transaction was assessable to gift tax this court distinguished the judgment in sunil siddharthbhai supra .....

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Mar 05 2003 (HC)

Commissioner of Gift-tax Vs. V. Sundaram Achari

Court: Kerala

Decided on: Mar-05-2003

Reported in: (2004)190CTR(Ker)203; [2004]266ITR681(Ker)

..... and in the circumstances of the case is not the gift exigible to gift tax and the assessee entitled only to an exemption under ..... the above statement clearly proved that the entire 51 sovereigns were gifted at the time of marriage he accordingly assessed the sum of ..... judgment shall not be distinguished this was not accepted by the gift tax officer who noted that the assessee gave a sworn statement .....

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Nov 12 2003 (HC)

Commissioner of Gift Tax Vs. Sree Visalam Chit Fund Ltd.

Court: Chennai

Decided on: Nov-12-2003

Reported in: (2004)188CTR(Mad)183

acts rules orders gift tax act 1958 section 4 1 cases referred reva investment p ltd v cgt 2001 249 itr 337 sc cgt v indo traders and agencies madras p ltd 1981 131 itr 313 mad

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Nov 03 2003 (HC)

Commissioner of Gift-tax Vs. S. Ashok and ors.

Court: Chennai

Decided on: Nov-03-2003

Reported in: (2004)192CTR(Mad)513; [2004]270ITR240(Mad)

..... a partner was for a consideration and there was no gift or deemed gift as on october 1 1982 5 the commissioner however upheld ..... and had enough materials to hold that there was no gift or deemed gift involved in the transactions of admission of the company into ..... taking note of that fact proceeded to make assessments under the gift tax act against the five original partners by treating the difference .....

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