https://www.taxtmi.com/caselaws?id=201386 Revocable gifts were treated as capable of tax recognition under the special scheme of the Gift-tax Act even though they may be void under the general law. The earlier view that bonus shares did not revert to the donor on revocation was applied, and the proposed additional issue concerning taxability of bonus shares or dividend income under section 6(2) was not entertained because it had not been raised earlier and did not arise from the Tribunal's order. No referable question of law was found on the grounds urged, so the reference petition was not maintainable. en-us Wed, 10 Dec 2008 00:00:00 +0530 Wed, 02 Jan 2013 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201386 Revocable gifts were treated as capable of tax recognition under the special scheme of the Gift-tax Act even though they may be void under the general law. The earlier view that bonus shares did not revert to the donor on revocation was applied, and the proposed additional issue concerning taxability of bonus shares or dividend income under section 6(2) was not entertained because it had not been raised earlier and did not arise from the Tribunal's order. No referable question of law was found on the grounds urged, so the reference petition was not maintainable. Case-Laws Income Tax Wed, 10 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201386