https://www.taxtmi.com/caselaws?id=17284 For exemption under section 5(1)(ii)(a) of the Gift-tax Act, the decisive factor is where movable property is situate when the gift is validly completed. A gift is complete only on a valid transfer, and where the Transfer of Property Act applies, acceptance by the donee is necessary. On one set of facts, bank drafts remitted from abroad were treated as situate in India because there was no proof of acceptance outside India or of agency by the remitting machinery, so the exemption was denied. On another, foreign fixed deposits were treated as outside India when the donor's instructions in England completed the transfer, so the exemption applied. en-us Wed, 12 Feb 1997 00:00:00 +0530 Mon, 21 Sep 2009 13:07:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17284 For exemption under section 5(1)(ii)(a) of the Gift-tax Act, the decisive factor is where movable property is situate when the gift is validly completed. A gift is complete only on a valid transfer, and where the Transfer of Property Act applies, acceptance by the donee is necessary. On one set of facts, bank drafts remitted from abroad were treated as situate in India because there was no proof of acceptance outside India or of agency by the remitting machinery, so the exemption was denied. On another, foreign fixed deposits were treated as outside India when the donor's instructions in England completed the transfer, so the exemption applied. Case-Laws Income Tax Wed, 12 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17284