1998 (8) TMI 28 - HC - Income Tax

Summary

The High Court of Madras ruled that a gift of gold and diamond jewels from a father to his daughter at the time of her marriage was not taxable as it was considered an obligation of the Hindu joint family to meet marriage expenses. The Tribunal upheld this decision, stating that no element of gift was involved. The court cited a previous case to support their decision. The Assessing Officer's levy of gift-tax was deemed beyond jurisdiction, and the court ruled in favor of the assessee, stating that no tax was leviable.