COMMISSIONER OF GIFT TAX Vs. R JAWAHAR

JUDGEMENT

(1.) THE Revenue wanted the Tribunal to refer to this Court the following question of law :

(2.) THE Tribunal has not only followed an earlier decision of this Court in CGT vs. Indo Traders & Agencies (Madras) (P) Ltd. answering the question against the Revenue, but also on the facts, has found that the consideration received by the assessee was fair and reasonable in the circumstances of the case, though it did not represent the guideline value adopted by the Sub-Registrar for registration purposes.