https://www.taxtmi.com/caselaws?id=17071 Where a trust is created and property is dedicated to it in the same deed, the transfer is treated as a gift to an existing trust for purposes of exemption under section 5(1)(v) of the Gift-tax Act, 1958. The trust deed was read as creating the trust first and then making the dedication of property, so the gift was regarded as having been made after the trust came into existence. On that basis, the exemption was available to the assessee and the Department's challenge failed. en-us Tue, 20 Aug 1996 00:00:00 +0530 Tue, 15 Sep 2009 10:54:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17071 Where a trust is created and property is dedicated to it in the same deed, the transfer is treated as a gift to an existing trust for purposes of exemption under section 5(1)(v) of the Gift-tax Act, 1958. The trust deed was read as creating the trust first and then making the dedication of property, so the gift was regarded as having been made after the trust came into existence. On that basis, the exemption was available to the assessee and the Department's challenge failed. Case-Laws Income Tax Tue, 20 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17071