https://www.taxtmi.com/caselaws?id=21548 A sale of land was examined for possible treatment as a deemed gift under section 4(1)(a) of the Gift-tax Act, 1958. The appellate material showed only a nominal difference between the stated consideration and the assessed value, below fifteen per cent, and the land was not on the main road. The purchaser was also unrelated to the assessee. On the facts accepted by the appellate authority and the Tribunal, there was no rebuttal or basis to treat the transaction as a deemed gift, and the issue was answered in favour of the assessee. en-us Mon, 05 Aug 1991 00:00:00 +0530 Wed, 25 Nov 2009 12:36:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21548 A sale of land was examined for possible treatment as a deemed gift under section 4(1)(a) of the Gift-tax Act, 1958. The appellate material showed only a nominal difference between the stated consideration and the assessed value, below fifteen per cent, and the land was not on the main road. The purchaser was also unrelated to the assessee. On the facts accepted by the appellate authority and the Tribunal, there was no rebuttal or basis to treat the transaction as a deemed gift, and the issue was answered in favour of the assessee. Case-Laws Income Tax Mon, 05 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21548