fall within the definition of a gift as defined U/s 2(xii)
of the Gift Tax Act, 1958 .
4 ITA No.199(Asr)/2015 ... unrestricted power to take it
back the next minute.
c. That conditional/revocable gift being outside the preview of a
valid gift does not constitute
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 ... donor and a gift revocable at pleasure is no gift at all. This provision provides only two conditions where a gift can be revoked
facto gift at all.
(6) Gift for purposes of levy of Gift-tax must be a real gift. Possession and enjoyment of the gifted property ... hereinafter referred to as T.P.Act) permits revocation of gift if the gift is conditional only. There is no provision as regards
assessee that there was no prohibition in law to make a conditional gift or a gift with reservation. The WTO referred to a finding given ... according to us, brings the transaction of gift under the definition of revocable transfer as the conditions laid down for irrevocable transfer' have
which cannot be prima facie accepted.
(v) Claim of depreciation on barges gifted by the assessee
The assessee's previous year ended ... assessee gifted 17 barges under a revocable gift deed--2 barges to Gomantak (P.) Ltd. and 15 barges to Chowgule Education Society. Gift
Madanlal Gupta Family Trust vs Joint Cit on 31 August, 2004
Equivalent citations: [2005]1SOT292
qualifications and conditions are made. Regulation 12 places some
obligations on the authorized courier. Regulation 13 provides for the
suspension and revocation of the registration ... export goods by the proper officer;
Provided that for import of documents, gifts and samples, and
low value dutiable consignments for which declaration have been
varied by these presents all other trusts, powers, provisions, covenant and conditions, contained in the said deed of trust dated 11-4-1961 shall remain ... execution of the second deed as a gift of the corpus of the properties and levied gift-tax thereon. According to him, by executing
Conveyance could not be done on account of pending litigations and revocation of Power of Attorney.
The Opposite Party No.7(v) Smt. Sumita Dutta ... suits, - i) declaration and injunction and another (ii) challenging the Deed of Gift executed by her in favour of her brothers and mother being
Conveyance could not be done on account of pending litigations and revocation of Power of Attorney.
The Opposite Party No.7(v) Smt. Sumita Dutta ... suits, - i) declaration and injunction and another (ii) challenging the Deed of Gift executed by her in favour of her brothers and mother being
