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2002 (2) TMI 19 - HC - Income TaxGift Tax Act, 1958 – "(1) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the transfer of immovable properties by the assessee to his minor sons, specifically for the purpose of their education, was not in the nature of gift in view of the Madras High Court's decision reported in CGT v. N. Jothi Kumar without considering the facts of the two cases in detail ? - (2) Whether, on the facts and in the circumstances of the case, the Tribunal was right in upholding the order of the Commissioner of Gift-tax (Appeals) even though he did not decide the point of valuation of the property as specifically mentioned in para. 6.1 of his order as under ?" - we are of the view that the findings of both the appellate authorities on the question of reasonableness are findings of fact. No question of law arises from the order of the Tribunal. The reference application is rejected.
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