9911796707
TMI Blog1972 (11) TMI 8X X X X Extracts X X X X X X X X Extracts X X X X ..... l, Cochin Bench, under section 26(1) of the Gift-tax Act, 1958 (hereinafter called " the Act "), is in these terms : " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that section 5(3) of the Gift-tax Act, 1958, applied to the gift under consideration and that the gift was liable to tax under the Gift-tax Act, 1958 ? " The gift in question ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anding anything contained in sub-section (1) or sub-section (2), where either spouse makes any gifts out of any such gifts received by that spouse as fall within clause (viii) of sub-section (1), the gifts so made shall be deemed to be taxable gifts made by that spouse and nothing contained in sub-section (1) or sub-section (2) shall apply in relation to any such gifts." Sub-section (2) of sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsider, would not be justified, for, if we do so, in the guise of interpreting the section, we will be amending it. Counsel also emphasised the expression " as fall within clause (viii) " and it was contended that " as fall within clause (viii) " indicates something that had accrued in praesenti and not in the past as in that case the expression would have been " as fell within clause (viii) ". We ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sment will always be a definite period, most often confined to an year, and that everything said in the statute relating to such matters of taxation must be taken as referring to that period. When there is ambiguity and the wording is not clear, it may perhaps be possible to interpret the ambiguous provision by applying such notions. But, when there is no ambiguity in the wording of the statute, i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) of section 5 is not available. If it is not available, tax will have to be paid. We, accordingly, answer the question referred to us in the affirmative, that is, against the assessee and in favour of the department. We direct the parties to bear their respective costs. A copy of the judgment under the seal of this court and the signature of the Registrar will be forwarded to the Income-tax App ..... X X X X Extracts X X X X X X X X Extracts X X X X
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