249 ITR

Gift Tax Act, Sec. 4, Sec. 4(1)(a)

S.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in coming to the conclusion that the difference of Rs. 8,21,950 on the sale of the jewellery by the assessee to its 12 wholly-owned subsidiary companies was not liable to gift-tax under the provisions of the GT Act 1958.

Supreme Court On India Reva Investment (P) Ltd. vs. Commissioner Of Gift Tax Section 4(1)(a) Asst. year 1976-77 S.P. Bharucha

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