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2003 (4) TMI 75 - GUJARAT HIGH COURTGift Tax Act, 1958 - "Whether the Tribunal is right in law and on facts in holding that no taxable gift or deemed gift under section 4(c) of the Gift-tax Act stands proved to have been made by the company in favour of Smt. Sarabhai and thereby deleting the same?" - We, hold that the Tribunal was right in holding that no taxable gift or deemed gift under section 4(c) of the Gift-tax Act was proved to have been made by the company in favour of Smt. Giraben Sarabhai. The question referred to us is, therefore, answered in the affirmative, in favour of the assessee and against the Revenue.
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