1998 (8) TMI 9

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..... Revenue. The assessee is an individual. He filed a nil return of gift for the year of account. The assessee has paid Rs. 19,033 in respect of an insurance policy taken under the Married Women's Right to Property Act. The assessee claimed that this insurance premium paid under the said Act is not assessable to gift-tax. The Gift-tax Officer did not accept the claim of the assessee and accordingly .....

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..... nce premium is paid in discharge of an obligation, undertaken in terms of the agreement between the assessee and the insurance company, there is no immediate transfer of property to the donee. The assessee was discharging only the legal obligation by paying the premium amount towards the insurance policy. By no stretch of imagination can it be stated that any element of gift is involved in the pre .....

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