Spouse exemption treated cumulatively across spouses and over time; prior gifts reduce available exemption for subsequent gifts. The Instruction holds that, by application of the General Clauses Act, the term spouse in the Gift-tax Act may be read as spouses, covering gifts between either gender and situations of multiple spouses; it further states the statutory aggregate exemption operates cumulatively across gifts to current or successive spouses, so earlier exempt gifts reduce the available exemption for later gifts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Spouse exemption treated cumulatively across spouses and over time; prior gifts reduce available exemption for subsequent gifts.
The Instruction holds that, by application of the General Clauses Act, the term spouse in the Gift-tax Act may be read as spouses, covering gifts between either gender and situations of multiple spouses; it further states the statutory aggregate exemption operates cumulatively across gifts to current or successive spouses, so earlier exempt gifts reduce the available exemption for later gifts.
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