https://www.taxtmi.com/caselaws?id=39945 Exemption for gifts under section 5(1)(xiv) of the Gift-tax Act, 1958 is available only if the transfer is made in the course of carrying on a business, profession or vocation and is bona fide for that purpose. A deed describing the transfer as made out of love and affection, without evidence that the gift was connected with the donor's profession or intended to advance it, does not satisfy that test. Continued use of the gifted property in the same manner, or a general claim of commercial expediency, is insufficient. On the facts found, the gifts of land and a hospital building did not qualify for exemption. en-us Fri, 24 Apr 1970 00:00:00 +0530 Fri, 08 Aug 2014 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39945 Exemption for gifts under section 5(1)(xiv) of the Gift-tax Act, 1958 is available only if the transfer is made in the course of carrying on a business, profession or vocation and is bona fide for that purpose. A deed describing the transfer as made out of love and affection, without evidence that the gift was connected with the donor's profession or intended to advance it, does not satisfy that test. Continued use of the gifted property in the same manner, or a general claim of commercial expediency, is insufficient. On the facts found, the gifts of land and a hospital building did not qualify for exemption. Case-Laws Income Tax Fri, 24 Apr 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39945