https://www.taxtmi.com/caselaws?id=28793 The High Court held in favor of the Revenue, ruling that the transfers of amounts to two ladies by an HUF were not accepted as gifts since the donees did not demonstrate possession or control over the gifted amounts. The lack of evidence of acceptance, absence of gift-tax returns, and the assessee's conduct indicated that the transfers were not intended as gifts. The Court did not address the validity of the gift amounts, deeming it academic and directing the assessee to pay costs of the proceedings. en-us Thu, 23 Sep 1982 00:00:00 +0530 Thu, 25 Feb 2010 17:09:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28793 The High Court held in favor of the Revenue, ruling that the transfers of amounts to two ladies by an HUF were not accepted as gifts since the donees did not demonstrate possession or control over the gifted amounts. The lack of evidence of acceptance, absence of gift-tax returns, and the assessee's conduct indicated that the transfers were not intended as gifts. The Court did not address the validity of the gift amounts, deeming it academic and directing the assessee to pay costs of the proceedings. Case-Laws Income Tax Thu, 23 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28793