https://www.taxtmi.com/caselaws?id=56390 A business-related benefit or write-off will not be treated as a taxable gift under the Gift-tax Act unless the surrounding circumstances show that it was a transfer made otherwise than for business purposes. Expenditure on a director's foreign tour was held not to be a gift merely because it was disallowed under income-tax law, as there was no material showing a gift intention. Likewise, amounts written off in connection with premises acquired for business were not a taxable gift where the arrangement was commercially motivated and bona fide for business purposes. Disallowance under income-tax principles did not by itself establish gift-tax liability. en-us Fri, 28 Aug 1992 00:00:00 +0530 Fri, 03 Dec 2010 13:41:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56390 A business-related benefit or write-off will not be treated as a taxable gift under the Gift-tax Act unless the surrounding circumstances show that it was a transfer made otherwise than for business purposes. Expenditure on a director's foreign tour was held not to be a gift merely because it was disallowed under income-tax law, as there was no material showing a gift intention. Likewise, amounts written off in connection with premises acquired for business were not a taxable gift where the arrangement was commercially motivated and bona fide for business purposes. Disallowance under income-tax principles did not by itself establish gift-tax liability. Case-Laws Income Tax Fri, 28 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56390