Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2004 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2004 (1) TMI 20 - HC - Income TaxGift Tax Act, 1958 – gift – validity - whether settlement deed No. 1606 of 1995 dated April 20, 1995, settling the immovable properties in favour of the children and grandson is a gift under the provisions of the Gift-tax Act - Assessing Officer issued notice dated November 19, 1999, to the assessee under section 32(2) directing him to pay a sum of Rs. 26,23,721 together with interest thereon. Notice was issued to the assessee since the donees were jointly and severally liable to pay gift-tax due from the donors by virtue of the provisions of section 29 of the Act - Whether valuation made by the Valuation Officer under section 15 (6) of the Act is correct or not.
|