https://www.taxtmi.com/caselaws?id=12883 Movable property gifted in Jammu and Kashmir fell within the exemption under section 5(1)(ii) of the Gift-tax Act, 1958, because the Act did not extend to that territory and the gift was made and accepted there. The Tribunal's findings that the property was situate in Jammu and Kashmir and that the donor was resident but not ordinarily resident were supported by the record, bringing the transaction within the statutory exception. Accordingly, the gift was not liable to gift tax under the Act. en-us Wed, 26 Sep 2001 00:00:00 +0530 Fri, 22 May 2009 17:44:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12883 Movable property gifted in Jammu and Kashmir fell within the exemption under section 5(1)(ii) of the Gift-tax Act, 1958, because the Act did not extend to that territory and the gift was made and accepted there. The Tribunal's findings that the property was situate in Jammu and Kashmir and that the donor was resident but not ordinarily resident were supported by the record, bringing the transaction within the statutory exception. Accordingly, the gift was not liable to gift tax under the Act. Case-Laws Income Tax Wed, 26 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12883