TMI Blog1967 (11) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... -tax Act, 1922, the Income-tax Appellate Tribunal, Bombay, has referred to this court for its opinion the following question of law : " Whether, in the facts and circumstances of this case, the income from the property transferred to the assessee's wife for a consideration of rupees one lakh could be assessed in the hands of the assessee under section 16(3) of the Act? " The material facts, as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the transaction was really a gift without consideration. In appeal, the Appellate Assistant Commissioner took the same view and held that the claim that the transfer was made in lieu of dower was really an afterthought. The Tribunal, however, found that the dower was originally settled at Rs. 10,000, that it was increased to rupees one lakh sometime in April 1960, that the property was transfe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the property is liable to be included in assessable income under section 16(3) of the Act. For the purpose of this reference, we accept the Tribunal's conclusions of fact. But it is plain that there cannot be oral transfer of immovable property worth a lakh of rupees in lieu of a dower debt of rupees one lakh. Such a transaction is a Hiba Biliwaz and requires a registered document : Mahabir Pra ..... X X X X Extracts X X X X X X X X Extracts X X X X
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