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2004 (4) TMI 9 - MADRAS HIGH COURTGift Tax Act, 1958 - whether the gift of an immovable property is the date of document or the date of registration of the document? - Act was subsequently amended by adding an Explanation clause to section 2(xii) of the Gift-tax Act for the definition of the term "gift" - Explanation clause, we find, does not in any way militate against the fulfillment of the requirements of section 123 of the Transfer of Property Act for a valid gift to be made by those persons mentioned in section 27(iiia) or 27(iiib) of the Income-tax Act. - we hold that the relevant date for consideration is only the date when the document was registered. - We answer the question in favour of the Revenue and against the assessee.
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