https://www.taxtmi.com/caselaws?id=7507 A registered settlement deed transferring shares, accepted by the daughter, was treated as a completed gift under the Gift-tax Act, 1958 because the donor had done everything necessary to divest title. Non-entry of the transfer in the company's register did not prevent completion of the transfer inter partes, as company registration affects recognition by the company rather than the validity of the gift between the parties. The later deed also superseded any earlier life-interest reservation and conveyed the entire beneficial interest in the shares. Accordingly, the taxable value was not limited to the donor's life interest but extended to the full value of the shares. en-us Thu, 21 Nov 1968 00:00:00 +0530 Fri, 20 Feb 2009 18:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7507 A registered settlement deed transferring shares, accepted by the daughter, was treated as a completed gift under the Gift-tax Act, 1958 because the donor had done everything necessary to divest title. Non-entry of the transfer in the company's register did not prevent completion of the transfer inter partes, as company registration affects recognition by the company rather than the validity of the gift between the parties. The later deed also superseded any earlier life-interest reservation and conveyed the entire beneficial interest in the shares. Accordingly, the taxable value was not limited to the donor's life interest but extended to the full value of the shares. Case-Laws Income Tax Thu, 21 Nov 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7507