https://www.taxtmi.com/caselaws?id=379684 Ownership of the gifted land and building was found to rest with the assessee, because the deed materials showed title, possession and enjoyment in the assessee and no reliable evidence proved that the trust financed or owned the construction. The Tribunal noted that the Supreme Court had limited the challenge to the ownership of the building, so the valuation point did not arise. On that factual basis, the transfer to the son under the partition deed fell within the deeming provision for gift tax and was treated as a deemed gift. en-us Tue, 30 Apr 2019 00:00:00 +0530 Mon, 06 May 2019 17:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379684 Ownership of the gifted land and building was found to rest with the assessee, because the deed materials showed title, possession and enjoyment in the assessee and no reliable evidence proved that the trust financed or owned the construction. The Tribunal noted that the Supreme Court had limited the challenge to the ownership of the building, so the valuation point did not arise. On that factual basis, the transfer to the son under the partition deed fell within the deeming provision for gift tax and was treated as a deemed gift. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379684