JIJEEBAI SHINDE Vs. COMMISSIONER OF GIFT TAX

JUDGEMENT

(1.) THIS is a reference under Section 26 of Gift-tax Act, 1958 (hereinafter referred to as "the Act"), made by the Income-tax Appellate Tribunal, Indore, at the instance of the assessee, referring the following question of law for answer of this court:

(2.) FACTS necessary for answering this question are that late Smt. Lilabai Matkar made a gift of a house bearing municipal No. 5, Ramlaxman Bazar, Indore, to her married daughter, Smt. Jijeebai Shinde, by a registered gift deed dated April 28, 1971. The value of the property was declared at Rs. 22,000. By another gift deed dated April 28, 1971, the late Smt. Lilabai Matkar gifted a house at Sirpur to Shri Chandrakant Shinde and in the gift deed, this house was valued at Rs. 3,000.

(3.) THE assessee preferred an appeal before the Tribunal, which stands dismissed by order dated June 15, 1982. THEreafter, by an application, the assessee sought a reference to this court and the Tribunal has referred the following question of law for our answer :