COMMISSIONER OF GIFT TAX Vs. MARUTRARAO NAYAKOJI KADAM

JUDGEMENT

(1.) THE question referred to us under section 26(1) of the Gift-tax Act (hereinafter referred to as the "Act") is "whether, on the facts and in the circumstances of the case, could the assessee be said to have gifted properties to his sons which attracted tax under the Gift-tax Act".

(2.) THE following facts have been found by the Tribunal :

(3.) IT is now well settled that a member of a Hindu Mitakshara family can throw his self-acquired property into the common hotch-potch and thus impress it with the character of joint family property. In this connection reference may be usefully made to the decision of the Bombay High Court in Kisansingh Mohan Singh Balwar v. Vishnu Balkrishna Jogalekar, and the decision of the Andhra Pradesh High Court in Sadasiva Vittal v. Bolla Rattain. To the same effect is the decision of the Bombay High Court in Commissioner of Income-tax v. M. M. Khanna.