https://www.taxtmi.com/caselaws?id=17277 Property subjected to land reforms proceedings was not treated as lacking transferable interest for gift-tax purposes merely because those proceedings were pending or incomplete, since the statutory bar under section 23 of the Tamil Nadu Land Reforms Act, 1961, operated only for ceiling computation and did not render the transfer void ab initio. On valuation, the assessment based on registration and stamp valuation was preferred as concrete evidence, while the approved valuer's report was treated as unsupported opinion evidence. The original valuation was therefore upheld, and the assessment findings remained undisturbed. en-us Tue, 16 Jul 1996 00:00:00 +0530 Mon, 21 Sep 2009 12:52:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17277 Property subjected to land reforms proceedings was not treated as lacking transferable interest for gift-tax purposes merely because those proceedings were pending or incomplete, since the statutory bar under section 23 of the Tamil Nadu Land Reforms Act, 1961, operated only for ceiling computation and did not render the transfer void ab initio. On valuation, the assessment based on registration and stamp valuation was preferred as concrete evidence, while the approved valuer's report was treated as unsupported opinion evidence. The original valuation was therefore upheld, and the assessment findings remained undisturbed. Case-Laws Income Tax Tue, 16 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17277