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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Guidance on Coordinated Enforcement: Section 4(1)(a) of Gift Tax Act, 1958 & Section 52 of Income Tax Act, 1961.</h1> The circular addresses the applicability of section 4(1)(a) of the Gift Tax Act, 1958, in relation to section 52 of the Income Tax Act, 1961. It instructs Income Tax Officers (ITOs) to consider the Gift Tax Act's provisions when evaluating the applicability of section 52, which requires prior approval from the Inspecting Assistant Commissioner (IAC). The Board advises that when IACs approve proposals under section 52, they should also direct ITOs to initiate gift tax proceedings. This ensures coordinated enforcement of both tax statutes.
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