RAMESAN G Vs. COMMISSIONER OF GIFT TAX

JUDGEMENT

(1.) THE following two questions are to be answered in this reference sent to this court by the Income-tax Appellate Tribunal, Cochin Bench, under Section 26(1) of the Gift-tax Act, 1958 :

(2.) THE proceedings appeared before us on board with no appearance on behalf of the assessee on whose instance the proceedings are brought before us. We felt that in such a situation, we must have the other point of view in the adversary system of justice. By our earlier order, we requested Shri Ramachandran Nair, himself an experienced advocate of this Bar, to assist us as amicus curiae. He readily agreed and we heard the matter yesterday (September 23, 1996). We are benefited by his assistance in getting the other point of view. We do not hesitate to record our appreciation and acknowledgment in regard thereto. We were much assisted in the process. We thank him.

(3.) THE assessee, Shri G. Ramesan, executed a gift deed on July 14, 1980, and thereby agricultural lands admeasuring 11 cents situated at Jagathy and certain buildings, both old and new, standing on a plot of land admeasuring 37 cents, in favour of his second daughter, Manju Ramesan.