TaxTMI Login
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →Just a moment...
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether the gifts of Rs. 25,000 made by the assessees were indirect transfers to the respective beneficiaries and were includible in their net wealth under section 4(1)(a) of the Wealth-tax Act, 1957.
Analysis: The Tribunal found, on the basis of the record, that the transfers were not independent transactions but formed links in the same chain. The surrounding circumstances showed common causation and motivation, and the transfers were treated as indirect transfers to the intended beneficiaries rather than as separate gifts to the named recipients.
Conclusion: The gifts were correctly held to be indirect transfers and were includible in the assessees' net wealth under section 4(1)(a) of the Wealth-tax Act, 1957.
TaxTMI 
TaxTMI 
