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Showing contexts for: conditional gift revocation in Gto vs P.J. Kurian on 31 January, 2005Matching Fragments
6. From the above facts the two issues emerge for deciding this case and those are as under:
1. Whether the gift is complete, as the property is transferred in the revenue records on the basis of registered gift deed and on the basis of application submitted by the donee.
2. Whether the cancellation of gift deeds subsequently alter the character of the gift, as the gift deeds are unconditional and the Transfer of Property Act, 1882 (hereinafter referred to as TP Act) permits revocation of gift if the gift is conditional only. There is no provision as regards to the cancellation of gift deeds in the Gift Tax Act.
(3) That after considering order of the learned CGT(A), the learned JM framed the following two questions for decision in his proposed order:
"1. Whether the gift is complete, as the property is transferred in the revenue records on the basis of registered gift deed and on the basis of application submitted by the donee
2. Whether the cancellation of gift deeds subsequently alter the character of the gift, as the gift deeds are unconditional and the Transfer of Property Act, 1882 (hereinafter referred to as TP Act) permits revocation of gift if the gift is conditional only. There is no provision as regards to the cancellation of gift deeds in the Gift Tax Act."