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of <h1>Inheritance not considered a gift under Gift-tax Act for 1964-65 assessment.</h1> <h3>HH. Maharana Rajasaheb Shri Pratapsinhji Saheb Of Wankaner Versus Commissioner Of Gift-Tax, Gujarat</h3> HH. Maharana Rajasaheb Shri Pratapsinhji Saheb Of Wankaner Versus Commissioner Of Gift-Tax, Gujarat - [1970] 78 ITR 1 The Supreme Court ruled that the provisions of the Gift-tax Act are not attracted to a sum of Rs. 70,000 thrown into the assessee's joint family. The court considered it not a 'gift' as defined in the Act. The assessment year in question was 1964-65, and the relevant accounting period ended on March 31, 1964. The court made no order as to costs in this reference.
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