COMMISSIONER OF GIFT TAX Vs. ALOKA LATA SETT

JUDGEMENT

(1.) In this reference under Section 26(1) of the Gift-tax Act, 1958, the following question of law has been referred to this court for the assessment year 1974-75 :

(2.) The facts, shortly stated, are as follows : The assessee filed a gift-tax return on August 20, 1974, declaring the value of the total gifts at Rs. 1,69,996. The Gift-tax Officer found that the gifts made by the assessee under a deed, registered on July 13, 1973, had not been included in the gifts returned by the assessee. He, therefore, included the amount of that gift being Rs. 1,36,242 while determining the value of the gift for the year under consideration.

(3.) The assessee appealed to the Commissioner of Gift-tax (Appeals) and contended that the gift deed, though registered on July 13, 1973, was executed on April 13, 1973. It was also pointed out that the assessee was maintaining the previous year as per Bengali calendar year and the gift of Rs. 1,36,242, having been made within the previous year relevant to the assessment year 1973-74, should not have been included in determining the gift for the assessment year 1974-75. The Commissioner of Gift-tax (Appeals) rejected the assessee's submission and upheld the action of the Gift-tax Officer.