TMI Blog1992 (6) TMI 95X X X X Extracts X X X X X X X X Extracts X X X X ..... s. G.V. Samant and the learned counsel for the assessee, Shri B.K. Khare. Mrs. G . V. Samant contended that the view held by the Commissioner of Gift-tax that the dedication of gold and silver articles to the family deity does not amount transfer or in the alternative gift and therefore not chargeable under the Gift-tax provisions in the hands of the assessee is not correct. She supported the order of the Assessing Officer. 3. The learned counsel Shri Khare argued at length. According to him in the transaction of a gift there is an offer and acceptance. The offer is made by the donor and accepted by the donee. It is the bilateral transaction between the donor and the donee. According to Shri Khare there is neither an offer nor an acceptan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 721. The Allahabad High Court has held that Hindu deity is not "living" person within the meaning of section 122 of Transfer of Property Act. It cannot also accept transfer from donor. A dedication in favour of Hindu deity is not, therefore, a gift under the Transfer of Property Act. 4. The Allahabad High Court further observed that the essentials of a Hindu religious endowment are (i) property in respect of which endowment is made must be designated with precision ; (ii) the object or purpose of dedication should be clearly indicated and (iii) the founder must completely divest himself of all the beneficial interest in the endowment property. No writing is necessary to create an endowment unless the endowment is to be created by a will. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accordance with the provisions of Transfer of Property Act or Gift-tax Act in the dedication of gold and silver articles to the fan-lily deity. If that is so the property has not passed on from hand to hand. An appointment of shebait to look after the management of the family deity does not mean that the assessee's rights and interest in the property even after dedication have not been extinguished. The property does not remain with the assessee. In this view of the matter there it is wrong to assess it under the Wealth-tax Act as wealth of the assessee. 8. It is not in dispute that the dedication of property is not bona fide. It is also an admitted fact that Hindu deity is a juridical person, assessable as an individual as it holds the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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