COMMISSIONER OF GIFT TAX Vs. D C SHAH

JUDGEMENT

(1.) The respondents have been served in these appeals but have not entered appearance.

(2.) These appeals arise out of a reference to the High Court under the provisions of the Gift Tax Act, 1958 . (The Judgement and order of the High Court is reported in D.C. Shah V/s. CGP.)

(3.) The reference pertained to the reconstitution of a partnership firm carrying on business in the name of Shah Chhaganlal Ugarchand Akkolkar at Nippani on 1-1-1964 and 19-11-1968, when fresh deeds of partnership came to be executed. The reference was of six questions. The first question is illustrative of the issue involved, and it reads thus: