https://www.taxtmi.com/caselaws?id=26226 A completed gift of shares accompanied by delivery of share certificates and duly signed transfer forms vests legal ownership in the donee immediately; the company's subsequent registration of transfer is procedural enforcement and not a prerequisite for vesting. Evidence of receipt and payment of dividends corroborates the completed transfer and supports a declaration of title. Operatively, the donee is entitled to rectification of the register of members by insertion of her (or her nominee's) name and to delivery of the share scrips/certificates or issuance of duplicates in default, in accordance with law. en-us Thu, 19 Jul 1984 00:00:00 +0530 Wed, 03 Feb 2010 16:03:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26226 A completed gift of shares accompanied by delivery of share certificates and duly signed transfer forms vests legal ownership in the donee immediately; the company's subsequent registration of transfer is procedural enforcement and not a prerequisite for vesting. Evidence of receipt and payment of dividends corroborates the completed transfer and supports a declaration of title. Operatively, the donee is entitled to rectification of the register of members by insertion of her (or her nominee's) name and to delivery of the share scrips/certificates or issuance of duplicates in default, in accordance with law. Case-Laws Income Tax Thu, 19 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26226