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TMI Blog1998 (1) TMI 30X X X X Extracts X X X X X X X X Extracts X X X X ..... to Andhra Pradesh Congress Committee, Mysore State Congress Committee and All India Congress Committee ? 2. Whether, on the facts and in the circumstances of the case, and having regard to clause 24 of the memorandum of articles of association, the Appellate Tribunal was right in holding that the donations have been made under the authority of the said clause in the memorandum and articles of association and, therefore, the gift is exempt under section 5(1)(xiv) of the Gift-tax Act in the light of the Board's Circular No. 1-G. T., dated January 5, 1960 ? 3. Whether, the Appellate Tribunal's view that the Board's Circular No. 1 G. T., dated January 5, 1960, would be applicable to the assessee's case is sustainable in law especially when ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the matter, the Appellate Tribunal did not consider the question regarding the fulfilment of the conditions under section 5(1)(v) or (iv) of the Act The Revenue challenged the order of the Appellate Tribunal and on the basis of the directions of this court the questions of law set out supra have been referred to us. Mr. C. V. Rajan, learned counsel for the Revenue, has forcibly argued that the order of the Appellate Tribunal is erroneous in law as the Tribunal failed to take notice of the fact that the circular would apply only in the case of gift made by a company to a political party under the authority of a specific clause in the memorandum and articles of association of the company and in the instant case, it was only a general clau ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counsel for the Revenue. The Board circular dated January 5, 1960, in terms, would apply only where a gift was made to a political party by a company under the authority of a specific clause in the memorandum and articles of association of the company. The Board circular also referred to the case of Jayantilal Ranchchoddas Koticha v. Tata Iron and Steel Co. Ltd. [1957] 27 Comp Cas 604 (Bom) and the decision of the Bombay High Court makes it clear that there was a specific clause in the memorandum and articles of association of the company to make donation to a political party. Considering the circular of the Board in the light of the decision of the Bombay High Court, it is clear that the Board circular was intended to apply only to cases w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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