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Shri Karamshibhai Karshanbhai ... vs The Ito Ward-1, Bhuj-Kutch, Bhuj-Kutch on 19 September, 2023 cites

Shri Jay Atulbhai Mody , Rajkot vs The Income Tax Officer, Ward-2 (2) (3),, ... on 16 November, 2022

In the case of Shri Jay Atulbhai Mody v, ITO in ITA number 240/Rjt/2017, the ITAT held that property transferred to Mother through ITA No.36/Rjt/2023 Karamshi Karsan Bhavani vs. ITO Asst.Year -2013-14 -8- Sale Deed is a sale and not Gift, taxable as capital gain. The ITAT made the following observations, while passing the order:
Income Tax Appellate Tribunal - Rajkot Cites 12 - Cited by 1 - Full Document

Rashtriya Ispat Nigam Ltd vs M/S Dewan Chand Ram Saran on 25 April, 2012

The case of Rashtriya Ispat Nigam Ltd. (Supra) does not apply to the facts of the case as it was in a different context that the intention is material. In the facts of this case, the registered sale deed is the best evidence to ascertain the actual nature of transaction. Had the assessee intended to transfer the asset through a gift she could have very well drawn at gift deed. When allegedly no money has been received from the transferee there was no need to mention so in the sale deed. Therefore, the contention regarding it being a gift is not tenable. The case of Mrs. Avtar Mohan Singh (Sura) also does not help the case of assessee because section 47(iii) comes to play only in cases of transfer through gift or will or an irrevocable trust. Transfer in the present case is not through these modes. I further note that the transaction has been held to be gift in the hands of the daughter, the transferee, and therefore it should be held so in the case of the assessee also is not tenable because in case of the daughter the consideration as per stamp duty valuation is not taxable as per proviso to 16 section 56(2)(vii). However, the provisions of capital gains taxation and the income from other sources are independent of each other. The income in the hands of the daughter having been held to be exempt, does not absolve the assesee from the capital gain liability. In view of the above, the contention of assessee was rightly been rejected by the Ld. CIT(A), which does not need any interference on my part, hence, I uphold the order of the Ld. CIT(A) on the issue in dispute and reject the issue in dispute raised by the assessee. 6. In the result, Assessee's appeal is dismissed."
Supreme Court of India Cites 21 - Cited by 317 - H L Gokhale - Full Document

Addl. Commissioner Of Income-Tax, ... vs Mrs. Avtar Mohan Singh on 16 October, 1981

CIT vs. Mrs. Avtar Mohan Singh (1982) 136 ITR 645 (Del). It is also contended that the said transaction has been treated as a gift in hands of the assessee's daughters Ms. Milanjeet Kaur. It is also contended that this transaction was a gift and therefore by virtue of section 47(iii), it was no liable for capital gain taxation. I find that the transaction is clearly through sale deed 15 This fact is not controverted. The submission that it was a gift is not borne out from the deed of transfer. In the deed, consideration has been shown to have been received. The mode of receipt of consideration not mentioned. Since the consideration has not received through cheque, there is no question of it being reflected in the bank account of the daughter. It is also true that for the purpose of stamp duty valuation, the property has been valued in Rs. 35,11,704/-. The provisions of section 50C are clearly applicable in this case as it is a case of transfer of property through sale deed at a price lower than the value adopted for stamp duty valuation.
Delhi High Court Cites 48 - Cited by 26 - S Ranganathan - Full Document
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