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TMI Blog1971 (12) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... have not been shown any decisive meaning of the word "kalakshepam" which compel us to take a different view. - Answered in favor of assessee - - - - - Dated:- 10-12-1971 - Judge(s) : P. GOVINDAN NAIR., T. S. KRISHNAMURTHY IYER. JUDGMENT The judgment of the court was delivered by GOVINDAN NAIR J.- This is a reference under section 26(1) of the Gift-tax Act, 1958, at the instance of the department in relation to an assessment for the year 1964-65. The questions referred are : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the gift was made partly for the education of the assessee's son and was to that extent exempt from tax under section 5(1)(xii) of the Gift-tax Act ? 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the gift was made in order that the educational needs of his son may also be met. In the deed of gift, annexure "A", the only statement is that the properties were gifted for the son's kalakshepam. The English translation also uses the same word "kalakshepam" without attempting to translate it. In fact, we think, it is rather difficult to find out an exact translation for this word in English, particularly in the context in which it has been used in the document in question and taking into account the circumstances in which it was executed. The assessee contended before the Tribunal in the second appeal that the document was executed, in any view of the matter, to provide for the educational needs of his son as well and this contentio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elevant accounting period. The question that was considered by the Supreme Court in Commissioner of Gift-tax v. Dr. George Kuruvilla was whether the gift that was considered therein was executed in the course of carrying on a business for the purpose of the business. Their Lordships held that "in the course of carrying on the business" meant not only that the gift should be executed during the continuance of a business but that the gift must have a nexus with the business. They also held that it must be shown that it was for the purpose of the business. In view of the dearth of material for coming to the conclusion that the gift was "in the course of carrying on the business", and "for the purpose of the business", the exemption under sec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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