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TMI Blog2011 (7) TMI 423X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in the year, 1968, was out of the funds of her husband - Thus, in the absence of any such materials, the Tribunal, had rightly held that the transaction in question attracted gift tax - Decided against the assessee. - 1061 OF 2004 - - - Dated:- 13-7-2011 - MRS. CHITRA VENKATARAMAN AND M. JAICHANDREN, JJ. C.V. Rajan for the Appellant. J. Naresh Kumar for the Respondent. JUDGMENT M. Jaichandren, J. The assessee has filed the present appeal against the order of the Income-tax Appellate Tribunal, Chennai Bench 'D', dated 25-8-2004, made in GTA No. 4/Mds/2001, raising the following substantial question of law : "Whether on facts and in the circumstances of the case, the Tribunal was right in holding that the prope ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yachandran, and that a divorce had also taken place between them. In support of the said claim, an order of the Principal Family Court, dated 29-6-1990, had been filed. The Gift Tax Officer had valued the immovable property at Rs. 4,74,450 and had valued the motor car at Rs. 50,000 and determined the total gift at Rs. 4,94,450. Gift tax at Rs. 1,48,335 and interest thereon had been levied at Rs. 2,69,906, under section 16(B) of the Gift Tax Act, 1958. As such, the total tax payable by the assessee was Rs. 4,18,241. 3. Aggrieved by the said order, the assessee had filed an appeal before the Commissioner of Income-tax (Appeals), Chennai, contending that the property in question did not belong to the assessee, as it had been bought by her hu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sufficient evidence before the authorities below. No details of the amounts of the money provided by her husband had been given. 8. From the evidence available on record, the Tribunal had decided that the property had been settled by the assessee, in favour of her husband, on 19-12-1988, out of natural love and affection and that there was an element of gift in the transaction between the assessee and her husband. Therefore, the Tribunal had held that there was no infirmity in the order passed by the Commissioner of Income-tax (Appeals). Accordingly, the appeal filed by the assessee had been dismissed. 9. Aggrieved by the said order, the assessee had filed the present tax case appeal before this Court stating that the order of the Tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been settled in favour of her husband, cannot be countenanced, as it is noted that the marriage between the assessee and her husband was subsisting at the time of the transfer of the property, by way of a 'Deed of Gift Settlement', dated 19-12-1988. 13. Similarly, regarding the gift of a motor vehicle, the order of the Assessing Officer, estimating its value at Rs. 50,000 and determining the taxable gift at Rs. 4,94,450, cannot be disputed, in the absence of sufficient evidence. 14. It is noted that the Tribunal had found, on facts, that the transactions were genuine in nature and that it had arisen from the subsistence of the relationship of husband and wife between the assessee and B. Jayachandran. The Tribunal had further pointed th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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