9911796707
TMI Blog1990 (8) TMI 111X X X X Extracts X X X X X X X X Extracts X X X X ..... RAKANTARAJ URS. J. -This petition is by the Revenue seeking an order of this court directing the Income-tax Appellate Tribunal, Bangalore Bench, Bangalore, to make a reference under section 26(2) of the Gift-tax Act, 1958 (hereinafter referred to as "the Act"). Briefly stated, the facts leading to this petition are these : One Koravanda Muthanna gifted certain immovable properties to his four da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of the gifted properties on March 29, 1977, and further that the assessing authority should take into account not only the value of the gifted estate and other immovable properties referred to in the gift deed but also the value of the standing crop for purposes of determining the value of the coffee estate. Accordingly, the Gift-tax Officer reassessed the assessee (since deceased by legal repre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . He has pointed out that the Tribunal has incorrectly applied the provisions of section 47 of the Registration Act of 1908, to come to the conclusion that the gift had taken effect on March 29, 1977. We do not want to express any opinion at this stage in regard to that contention. Certainly, it suffices for us to state that as to when a gift of immovable property takes effect is pure question of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he second question is concerned, we do not think it to be a pure question of law. There is no legal foundation for including the standing crop in the valuation of a gifted estate for the purpose of gift-tax. In a transfer of immovable property, whatever is contained on the land is included in the land itself and, therefore, in order to satisfy us that the standing crop should necessarily be includ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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