https://www.taxtmi.com/caselaws?id=66793 Under gift-tax law, compulsory registration is not indispensable for a gift of immovable property, but a taxpayer relying on an earlier completion date must prove actual transfer on that date. In this matter, the claimed 1978 completion was not supported by reliable evidence of delivery of possession or related conduct, so the earlier date was not accepted. On valuation, the authorities' steep enhancement of the gifted lands was not backed by cogent material, while some uplift over acquisition cost was justified by the later gift date and surrounding circumstances. A moderated, reasoned valuation was therefore adopted on the available facts. en-us Thu, 27 Jul 1989 00:00:00 +0530 Mon, 07 Mar 2011 14:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66793 Under gift-tax law, compulsory registration is not indispensable for a gift of immovable property, but a taxpayer relying on an earlier completion date must prove actual transfer on that date. In this matter, the claimed 1978 completion was not supported by reliable evidence of delivery of possession or related conduct, so the earlier date was not accepted. On valuation, the authorities' steep enhancement of the gifted lands was not backed by cogent material, while some uplift over acquisition cost was justified by the later gift date and surrounding circumstances. A moderated, reasoned valuation was therefore adopted on the available facts. Case-Laws Income Tax Thu, 27 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66793