COMMISSIONER OF GIFT TAX Vs. SURAJBEN K MEHTA

JUDGEMENT

(1.) THE question referred for our opinion reads :

(2.) THAT the assessee had gifted 20% of her interest in the partnership in favour of her daughters-in-law is beyond dispute.

(3.) THE Tribunal, learned counsel for the Revenue submits, has gone wrong in reducing the value of the taxable gift from 20% to 10%. THEre is considerable force in this submission, because, it is the common case of the parties that the assessee had gifted 20% of her right in the partnership in favour of her daughters-in-law.