https://www.taxtmi.com/caselaws?id=7008 Section 5(j) of the Expenditure-tax Act was construed broadly to exempt gifts from expenditure-tax. A transfer that is a gift under general law remains a gift, and the Gift-tax Act also covers deemed gifts such as a release or abandonment of an interest in property. The phrase in section 5(j) was held not to be limited to gifts under the Transfer of Property Act, and the words "by way of" and "in respect of" were read to cover both the gift and expenditure incurred in making it. Amounts relinquished in favour of the sons were therefore treated as gifts within the exemption and not liable to expenditure-tax. en-us Tue, 20 Jun 1967 00:00:00 +0530 Mon, 09 Jun 2025 09:56:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7008 Section 5(j) of the Expenditure-tax Act was construed broadly to exempt gifts from expenditure-tax. A transfer that is a gift under general law remains a gift, and the Gift-tax Act also covers deemed gifts such as a release or abandonment of an interest in property. The phrase in section 5(j) was held not to be limited to gifts under the Transfer of Property Act, and the words "by way of" and "in respect of" were read to cover both the gift and expenditure incurred in making it. Amounts relinquished in favour of the sons were therefore treated as gifts within the exemption and not liable to expenditure-tax. Case-Laws Income Tax Tue, 20 Jun 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7008