invalid. It was also urged that the Gift Deed is conditional and such conditional Gift Deeds are invalid. Another contention has been that the Gift ... Such superfluous and redundant recital in Gift Deed will neither render gift deed to be in future nor conditional gift. These recitals, therefore
gift is valid, the condition is void. Under the Shiah Law, if the condition is subsidiary to the gift, both the gift and the conditions ... gift must be held to be complete. It being not a contingent gift or a gift of a life interest or gift of property
Property Act, 1882 defines "Gift‟ as under"
"122. "Gift" defined. "Gift" is the transfer of certain existing movable ... donor to the donee. However, it is permissible to make conditional
gifts. The only restriction is that the condition must not be
repugnant
five Gift Deeds, all dated September 25, 1951: and by each Gift Deed he gifted different immoveable properties mentioned in the relevant Gift Deed ... major sons themselves accepted the
gifts on their own behalf. In each of the five Gift Deeds certain conditions were laid down by the deceased
Transfer of Property Act. To be a valid Gift, the conditions enumerated under Section 122 of the Transfer of Property Act must be fulfilled ... said Deed of Gift. He has further submitted that the donee has accepted the Gift on the terms and conditions contained therein and has covenanted
property in any way affected the
validity of the gift. That a gift deed was
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Downloaded ... time, such a reservation or retention
rendered the gift invalid. A conditional gift
was not envisaged by the provisions of the
Transfer of Property
into existence and that therefore this gift was bad. It was also contended that the gift was conditional on the coming into existence ... that we can accept the contention of Mr. Thakore that the gift was conditional either on the creation of the Kelavani Mandal
that the assessment or reassessment of the escaped taxable gift can be made by the Gift-tax Officer only if he has, in consequence ... possession, reason to believe that such taxable gift has escaped assessment. Two conditions must be satisfied before the Gift-tax Officer can initiate an action
Commissioner vs Rinkesh on 2 April, 2009
Author: Akil Kureshi
Bench: Akil Kureshi
45/ 45
that the assessment or reassessment of the escaped taxable gift can be made by the Gift-tax Officer only if he has, in consequence ... possession, reason to believe that such taxable gift has escaped assessment. Two conditions must be satisfied before the Gift-tax Officer can initiate an action
