clear that where a gift is made by the karta to his wife of immovable property, the gift would be void. In the present case ... Those gifts are no doubt voidable at the instance of the coparceners who are effected by those gifts, but still those gifts are void
deals with gifts of movable and immovable properties. Section 122 defines 'gift' as under:
Gift" defined.
122. "Gift ... still capable of giving.
If the donee dies before acceptance, the gift is void
7.4. Section 123 of the Transfer of Property Act deals with
cancellation or revocation of gift. The Gift Tax Act , is silent on the revocation of gift and if, gift is made, whether ... Save as aforesaid, a gift cannot be revoked." A gift is a transfer of property and when an absolute gift is made, subject
regarded as gifts. Finally, it was contended on behalf of the assessee that even assuming that the transaction amounted to gift, the gift in question ... karta amounted to a gift made in favour of his daughters, the gift would be void, must be repelled.
26. According to the assessee, setting
alleged gifts, when they have the title and definite share in their
own name. hence, the alleged gifts are treated as void ... four co-owners was not valid and it was
a void gift, that cannot affect the taxability in the hands of the assessee
conditions laid down for Muslim gifts. There is no declaration of gift which is necessary to constitute Muslim gift. There should also be complete relinquishment ... that the gift in question is not in fact a gift at all because there was a rider attached to the gift
gifted amount did not accrue to the assessee family for income-tax purposes on either view, whether the gift was void or voidable. There ... assessee as the gifted property vested in the minors. There is no scope here to hold that the gifts were void or voidable
gift. In event of the gift being revocable wholly or in part
at the mere will of donor, the gift in itself is void either ... transfer between appellant and his nephew is not a valid
gift but a void transfer not recognized under law as a valid
transfer
gift the ownership over the gifted
property is transferred voluntarily by the donor without any consideration and accepted
by the done. If the gifted property ... today, the gift suffers from illegality and thus a null and void gift. Besides, secondly the
original gift deed was not produced which also goes
karta, had no powers to gift the shares to a third party and, therefore, the gift was void.
2. Shri Sekaran, the learned Departmental Representative ... karta of making the revokable gift and the fact that the gift itself is void, make if very clear that the amount of gift
