1979 (1) TMI 98 - SC - Income Tax

Summary

The Supreme Court rejected a special leave petition regarding the interpretation of s. 10 of the E.D. Act, 1953. The court held that the donee must retain possession and enjoyment of the property gifted to the entire exclusion of the donor to avoid the applicability of s. 10. The court also noted that living together as a family does not mean the donor retains possession or enjoyment of the gifted property. The court cited previous judgments supporting this interpretation and rejected the petition.