COMMISSIONER OF GIFT TAX Vs. SATIYA BUDEK

JUDGEMENT

(1.) SINCE the factual position is similar in all these five cases, they are disposed of by this common judgment. On being moved by the Revenue in applications under Section 26(3) of the Gift-tax Act, 1958 (in short the "Act"), this court had directed the Income-tax Appellate Tribunal, Cuttack Bench (in short the " Tribunal"), to refer the following question for adjudication :

(2.) THE background of the cases as culled out from the statement of facts prepared by the Tribunal is as follows :