https://www.taxtmi.com/caselaws?id=59316 The charge to gift-tax on a firm transferring flats to retiring partners turned on whether a firm fell within the expression "person" in section 2(xviii) of the Gift-tax Act, 1958. Because the statutory definition was treated as non-exhaustive and there was conflicting judicial opinion on the firm's separate assessability, the fiscal rule of construction favouring the subject was applied. On that interpretation, the firm was not brought within the gift-tax charge, and the deemed gift was deleted in favour of the assessee. en-us Wed, 25 Aug 1993 00:00:00 +0530 Mon, 27 Dec 2010 17:37:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59316 The charge to gift-tax on a firm transferring flats to retiring partners turned on whether a firm fell within the expression "person" in section 2(xviii) of the Gift-tax Act, 1958. Because the statutory definition was treated as non-exhaustive and there was conflicting judicial opinion on the firm's separate assessability, the fiscal rule of construction favouring the subject was applied. On that interpretation, the firm was not brought within the gift-tax charge, and the deemed gift was deleted in favour of the assessee. Case-Laws Income Tax Wed, 25 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59316