https://www.taxtmi.com/caselaws?id=22018 A writ petition challenging a notice under section 16(1)(a) of the Gift-tax Act, 1958 was held not maintainable because the statute provided an efficacious alternative remedy. The notice concerned a possible deemed gift arising from the difference between sale consideration and fair market value in a business transfer, but the petitioners could reply to the notice and, if necessary, pursue the appellate remedies under the Act. The Court therefore declined to entertain the writ at the threshold and relegated the petitioners to the statutory process, dismissing the proceedings without costs. en-us Tue, 21 May 1991 00:00:00 +0530 Sat, 05 Dec 2009 15:19:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22018 A writ petition challenging a notice under section 16(1)(a) of the Gift-tax Act, 1958 was held not maintainable because the statute provided an efficacious alternative remedy. The notice concerned a possible deemed gift arising from the difference between sale consideration and fair market value in a business transfer, but the petitioners could reply to the notice and, if necessary, pursue the appellate remedies under the Act. The Court therefore declined to entertain the writ at the threshold and relegated the petitioners to the statutory process, dismissing the proceedings without costs. Case-Laws Income Tax Tue, 21 May 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22018