9911796707
TMI Blog1978 (9) TMI 96X X X X Extracts X X X X X X X X Extracts X X X X ..... the following question, said to be a question of law, arising out of the order of the Tribunal in EDA No. 65 (Mds) of 1976 77. dt. 31st Jan., 1978. "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was correct in holding that the provisions of s. 33 (1) (o) of the ED Act would apply in respect of the gifts included in the ED assessment us 10 of the said Act and c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome dates. 3. The Department went in appeal to the Appellate Tribunal. The Department relied on the decision in the Madras High Court in the case of S.M.N Mahadevan Chettier, Whereas the assessee's counsel, Sri R. Venkataraman, contended that the entries having been made by the partnership and evidenced as such, it will be an actionable claim and, therefore, the Appellate Controller had rightly e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... son, daughter, brother or sister beyond the period of five years would be exempt provided that the property is either chargeable under s. 5 of that Act, for any assessment year commencing after the 31st day of March, 1964. When similar gifts have been made to the sons and in respect of the properties so taken under the gifts, s. 33(1)(o) squarely operates. In our opinion, when all the facts for t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
