BANOO E COWASJI Vs. COMMISSIONER OF GIFT TAX

JUDGEMENT

(1.) MISC . Civil Case No. 41 of 1987 and Misc. Civil Case No. 200 of 1987 cover the reference made by the Tribunal under S. 26(1) of the GT Act, 1958 (for short 'the Act') at the instance of the assessee. Misc. Civil Case No. 44 of 1989 is in compliance of the directions issued by this Court under S. 26(2) of the Act. As these cases involve the same question about taxability as gift and the share on that basis, the cases are heard analogously and are being disposed of by this common order.

(2.) IN Misc. Civil Case No. 41 of 1987, the undernoted question of law, arising out of the GTA No. 10/Ind/1984 decided on 14th April, 1986 and connectible with RA No. 46/Ind/86 for asst. year 1974 75, is submitted for our opinion :

(3.) IN Misc. Civil Case No. 44 of 1989, the Tribunal with reference to the order dt. 29th June, 1987 passed in GTA No. 3/Ind/1987 and connectible with RA No. 92/Ind/1987 for asst. year 1974 75, sent undernoted question of law, as directed by this Court, for our opinion :