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2009 (2) TMI 406 - RAJASTHAN HIGH COURTGift Tax- In this case father in law give the ornaments to his daughter in law. he submitted that transfer of ornaments was neither voluntary nor without consideration. Thus it is not gift and not liable to tax. Held that- in the light of the views taken by the Madhya Pradesh High Court is correct and the gift was made to the younger daughter in law of the assessee which had not been included in the category of taxable value. it was a voluntary transfer by the assessee to another person which would definitely fall within the definition of ‘gift’ as provided u/s 2(xii) of the Gift tax Act, 1958. Accordingly reference in favour of the Revenue and against the assessee.
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