1976 (10) TMI 34 - HC - Income Tax

Summary

The High Court of Punjab and Haryana held that gifts made by Jai Chand to his wife through the Hindu undivided family account were exempt from Gift-tax. The court found no evidence to show Jai Chand acted on behalf of the family rather than as an individual. The court referred to previous judgments supporting the exemption. The court rejected the reference, stating no supplemental statement was necessary. No costs were awarded.