https://www.taxtmi.com/caselaws?id=55191 For section 5(1)(v) of the Gift-tax Act, a deemed gift is treated as a gift because section 2(xii) expressly includes transfers or conversions deemed to be gifts under section 4, so exemption may extend beyond actual voluntary gifts if the statutory conditions are met. A transfer of immovable property to a charitable foundation was therefore treated as exempt where the donee's charitable status was established, even though contemporaneous section 80G approval for the relevant period was not complete. The commentary states that the exemption was sustained and the consequential rectification order fell with the failed levy. en-us Tue, 06 Sep 1988 00:00:00 +0530 Wed, 24 Nov 2010 13:51:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55191 For section 5(1)(v) of the Gift-tax Act, a deemed gift is treated as a gift because section 2(xii) expressly includes transfers or conversions deemed to be gifts under section 4, so exemption may extend beyond actual voluntary gifts if the statutory conditions are met. A transfer of immovable property to a charitable foundation was therefore treated as exempt where the donee's charitable status was established, even though contemporaneous section 80G approval for the relevant period was not complete. The commentary states that the exemption was sustained and the consequential rectification order fell with the failed levy. Case-Laws Income Tax Tue, 06 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55191