https://www.taxtmi.com/caselaws?id=20636 A coparcener's relinquishment in a partition deed was examined under the Gift-tax Act to determine whether it created a gift or deemed gift. Reading the deed as a whole, the recitals showed that the first executant gave up her share in favour of the other sharers and no separate share was allotted to her, so the arrangement was treated as a partition among the remaining parties rather than an exclusive transfer to the assessee. Section 4(1)(c) applied only where abandonment was found not bona fide to the Assessing Officer's satisfaction, and no such adverse finding existed. The Tribunal's view that no taxable deemed gift arose was upheld, and its refusal to refer the questions of law was justified. en-us Mon, 01 Mar 1993 00:00:00 +0530 Mon, 16 Nov 2009 12:25:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20636 A coparcener's relinquishment in a partition deed was examined under the Gift-tax Act to determine whether it created a gift or deemed gift. Reading the deed as a whole, the recitals showed that the first executant gave up her share in favour of the other sharers and no separate share was allotted to her, so the arrangement was treated as a partition among the remaining parties rather than an exclusive transfer to the assessee. Section 4(1)(c) applied only where abandonment was found not bona fide to the Assessing Officer's satisfaction, and no such adverse finding existed. The Tribunal's view that no taxable deemed gift arose was upheld, and its refusal to refer the questions of law was justified. Case-Laws Income Tax Mon, 01 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20636