https://www.taxtmi.com/caselaws?id=67474 The Tribunal held that income from gifted properties under Mohammedan Law is taxable under section 64(1)(v) of the Income Tax Act. The Tribunal rejected the argument that gifts exempt under the Gift-tax Act are not taxable under the Income Tax Act, emphasizing the distinction between the two laws. It clarified that gifts under Mohammedan Law constitute a transfer of property and fall within the definition of 'Transfer' under the Income Tax Act. The Tribunal allowed the appeals, restoring the orders of the ITO and ruling the income from the gifted properties as taxable in the assessee's hands for the relevant assessment years. en-us Mon, 12 Aug 1991 00:00:00 +0530 Thu, 10 Mar 2011 17:36:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67474 The Tribunal held that income from gifted properties under Mohammedan Law is taxable under section 64(1)(v) of the Income Tax Act. The Tribunal rejected the argument that gifts exempt under the Gift-tax Act are not taxable under the Income Tax Act, emphasizing the distinction between the two laws. It clarified that gifts under Mohammedan Law constitute a transfer of property and fall within the definition of 'Transfer' under the Income Tax Act. The Tribunal allowed the appeals, restoring the orders of the ITO and ruling the income from the gifted properties as taxable in the assessee's hands for the relevant assessment years. Case-Laws Income Tax Mon, 12 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67474