https://www.taxtmi.com/caselaws?id=64123 A registered gift deed was held to operate from the date of execution, because section 47 of the Indian Registration Act, 1877 gives a registered document retrospective effect from the time it would have commenced to operate if registration had not been required. On that basis, a completed gift takes effect on execution, while registration only perfects the formal requirement. Since the gift deed was executed before the accounting period relevant to the assessment year, the transfer could not be taxed in that year. The assessability therefore turned on the execution date, not the registration date. en-us Sat, 11 Nov 1978 00:00:00 +0530 Thu, 03 Feb 2011 18:45:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64123 A registered gift deed was held to operate from the date of execution, because section 47 of the Indian Registration Act, 1877 gives a registered document retrospective effect from the time it would have commenced to operate if registration had not been required. On that basis, a completed gift takes effect on execution, while registration only perfects the formal requirement. Since the gift deed was executed before the accounting period relevant to the assessment year, the transfer could not be taxed in that year. The assessability therefore turned on the execution date, not the registration date. Case-Laws Income Tax Sat, 11 Nov 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64123