viib) are not taxable under Income-tax Act or any
other Act. During the period, when Gift Tax Act was
in existence, gifts by companies ... 2015
legislature indicated its intention that the gifts will be
no more taxable under the Gift Tax Act , but nc
corresponding change was made under
transfer a property by
way of gift. The same was also provided in the earstwhile Gift Tax Act wherein the
company was included ... given in dictionary, ignoring the provisions of the Act like
Transfer of Property Act, Contract Act, Gift Tax Act (even though repealed). The
Appellant submits
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 ... gift if the gift is conditional only. There is no provision as regards to the cancellation of gift deeds in the Gift Tax Act
aforesaid sections shows that the definition of "gift" under the Gift-tax Act is wide enough to cover transfer of movable or immovable ... goodwill stands transferred and transaction constitutes a "gift" under the Gift-tax Act . While taking such view, the Hon'ble Supreme Court
aforesaid sections shows that the definition of "gift" under the Gift Tax Act is wide enough to cover transfer of movable or immovable ... goodwill stands transferred and transaction constitutes a "gift" under the Gift Tax Act . While taking such view, the Hon'ble Supreme Court
Gift Tax Act mentions the gift that are exempted under the Gift Tax Act among them properties passed to a person under a will ... follows:
Exemption in respect of certain gifts
(5) Gift tax shall not be charged under this Act in respect of gifts made by any person
Gift Tax Act mentions the gift that are exempted under the Gift Tax Act among them properties passed to a person under a will ... follows :
Exemption in respect of certain gifts
(5) Gift tax shall not be charged under this Act in respect of gifts made by any person
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 ... 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
gift, such gift made will not amount to transfer of gifted property
as per Clause (iii) of sec.47 of the I.T.Act ... gift, the transfer
must be of an existing property. The meaning given to the expression
"gift" in the erstwhile Gift Tax Act
gift, such gift made will not amount to transfer of gifted property
as per Clause (iii) of sec.47 of the I.T.Act ... gift, the transfer
must be of an existing property. The meaning given to the expression
"gift" in the erstwhile Gift Tax Act
