https://www.taxtmi.com/caselaws?id=371580 Under Sections 122 and 123 of the Transfer of Property Act, 1882, a valid gift requires a voluntary transfer without consideration, by a registered instrument for immovable property, accepted during the donor's lifetime. A document styled as a gift deed will not amount to a completed gift where it discloses consideration, reserves possession and enjoyment to the donor, and is intended to operate only after the donor's death; in that situation, the essential elements of a gift are absent and any conditional transfer remains incomplete until the condition is fulfilled. The Supreme Court held that the document was not a completed gift and that the donor was competent to cancel it, setting aside the High Court's finding. en-us Fri, 26 Oct 2018 00:00:00 +0530 Thu, 06 Dec 2018 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371580 Under Sections 122 and 123 of the Transfer of Property Act, 1882, a valid gift requires a voluntary transfer without consideration, by a registered instrument for immovable property, accepted during the donor's lifetime. A document styled as a gift deed will not amount to a completed gift where it discloses consideration, reserves possession and enjoyment to the donor, and is intended to operate only after the donor's death; in that situation, the essential elements of a gift are absent and any conditional transfer remains incomplete until the condition is fulfilled. The Supreme Court held that the document was not a completed gift and that the donor was competent to cancel it, setting aside the High Court's finding. Case-Laws Indian Laws Fri, 26 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371580