https://www.taxtmi.com/caselaws?id=36421 A gift of movable property may be completed by constructive delivery through duly communicated and accepted book entries, where the donor ceases to hold the money as owner and the transferee is treated as in possession. On that basis, the later physical handing over of cash did not keep the donation incomplete after the close of the accounting year. The trust had accepted the entry and treated the amount as part of its general funds and donations receivable, so the gift was regarded as complete before year-end. The commentary notes that reliance on section 13(2)(h) was unjustified in these circumstances, and the assessee could not claim that the donation remained incomplete for exemption under section 11. en-us Tue, 08 Jan 1980 00:00:00 +0530 Mon, 22 Mar 2010 12:10:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36421 A gift of movable property may be completed by constructive delivery through duly communicated and accepted book entries, where the donor ceases to hold the money as owner and the transferee is treated as in possession. On that basis, the later physical handing over of cash did not keep the donation incomplete after the close of the accounting year. The trust had accepted the entry and treated the amount as part of its general funds and donations receivable, so the gift was regarded as complete before year-end. The commentary notes that reliance on section 13(2)(h) was unjustified in these circumstances, and the assessee could not claim that the donation remained incomplete for exemption under section 11. Case-Laws Income Tax Tue, 08 Jan 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36421