1976 (9) TMI 81 - AT - Income Tax

Summary

The Appellate Tribunal held that the transfer of Rs. 30,000 to three minor daughters by the sole surviving coparcener for education and marriage expenses should be reexamined by the Gift-tax Officer under ss.5(1)(vii) and 5(1)(xii) of the Gift-tax Act, 1958. The orders of the lower authorities were set aside for fresh assessment. The appeal was partially allowed.