https://www.taxtmi.com/caselaws?id=40073 A gift of money cannot be treated as completed merely through book entries where there is no sufficient cash balance for actual delivery of the amount. The Court applied its contemporaneous ruling on the same legal question and held that the book-entry transfer, in these circumstances, did not validly constitute a completed gift. The alleged transfer to the grandchildren therefore failed as an effective gift, and the amount remained includible in the estate. en-us Tue, 03 Feb 1987 00:00:00 +0530 Tue, 29 Jul 2014 09:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40073 A gift of money cannot be treated as completed merely through book entries where there is no sufficient cash balance for actual delivery of the amount. The Court applied its contemporaneous ruling on the same legal question and held that the book-entry transfer, in these circumstances, did not validly constitute a completed gift. The alleged transfer to the grandchildren therefore failed as an effective gift, and the amount remained includible in the estate. Case-Laws Indian Laws Tue, 03 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40073