COMMISSIONER OF GIFT TAX Vs. VILAS G KURBETTI

JUDGEMENT

(1.) THE question brought for our consideration under the provisions of the Gift-tax Act reads thus :

(2.) THE question is covered by the decision of this court in D. C. Shah v. CGT [1982] 134 ITR 492. Accordingly, it is held that it is not a gift and not taxable. THE question is answered against the Revenue. Reference answered accordingly.