Gift-tax exemption for coparcener's gift to wife upheld where binding precedent covered the issue

Exemption under section 5(1)(viii) of the Gift-tax Act was held to apply to a gift made by the sole surviving coparcener of a Hindu undivided family to his wife. The Tribunal treated the issue as covered by binding precedent and found no reason to depart from that view, so the assessee's claim to exemption succeeded and the Revenue's appeal was rejected.

---

---

Issues: Whether exemption under section 5(1)(viii) of the Gift-tax Act was available in respect of a gift made by the sole surviving coparcener of a Hindu undivided family to his wife.

Analysis: The issue was treated as covered by the earlier ruling relied upon by the Appellate Assistant Commissioner, and the Tribunal found no reason to differ from that view. The decision cited before the lower authority, along with supporting rulings, was taken as sustaining the assessee's claim to exemption on the facts of the case.

Conclusion: The exemption was held to be available, and the assessee's claim succeeded.

Final Conclusion: The Revenue's appeal was rejected and the order granting relief to the assessee was sustained.

Ratio Decidendi: Where the applicable exemption provision is squarely covered by binding precedent, a gift by the sole surviving coparcener of a Hindu undivided family to his wife falls within the exemption.

---