COMMISSIONER OF GIFT TAX Vs. KAMRUDDIN M RAVJI

JUDGEMENT

(1.) IN this reference at the instance of the Revenue, the following question of law is referred for our opinion in respect of asst. yr. 1977-78 : "Whether, the Tribunal is right in law and the facts in holding that there was no taxable gift and thereby deleting the taxable gift of Rs. 61,954?"

(2.) WE have heard Mr. M.R. Bhatt, learned standing counsel for the Revenue. Though served, none appears for the respondent-assessee.

(3.) WE accordingly answer the question in the affirmative i.e., in favour of the assessee and against the Revenue. The reference accordingly stands disposed of.