https://www.taxtmi.com/caselaws?id=17363 The Tribunal's decision declaring the gift deed for equity shares as valid was upheld, leading to the deletion of Rs. 25,000 dividend income from the donor's assessment. However, the issue of taxability of this dividend income on bonus shares was challenged by the Revenue, resulting in a High Court direction for the Tribunal to refer the question of law for its opinion. The High Court disagreed with the argument against further referral and allowed the petition, instructing the Tribunal to refer the question of law on the taxability of the dividend income for its opinion. en-us Tue, 28 May 1996 00:00:00 +0530 Mon, 21 Sep 2009 17:48:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17363 The Tribunal's decision declaring the gift deed for equity shares as valid was upheld, leading to the deletion of Rs. 25,000 dividend income from the donor's assessment. However, the issue of taxability of this dividend income on bonus shares was challenged by the Revenue, resulting in a High Court direction for the Tribunal to refer the question of law for its opinion. The High Court disagreed with the argument against further referral and allowed the petition, instructing the Tribunal to refer the question of law on the taxability of the dividend income for its opinion. Case-Laws Income Tax Tue, 28 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17363