1983 (8) TMI 121

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.... the appellate CED. 2. The facts giving rise to this appeal lie in a very narrow compass. One Smt. Purni Devi Jalan died on 24th Sept., 1979 at Jorhat. The deceased made a gift of cash and landed property by means of registered deed on which stamp duty of Rs. 3,270 had to be paid in respect of the landed property. The gift-tax payable was Rs. 10,750 out of which the amount of Rs. 3,270 paid as ....

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....ded that deduction on account of stamp duty payable on the Gift Deed was an allowable deduction under s. 18A of the GT Act, and that on the same principle, deduction of stamp duty should also be allowed under s. 50A of the ED Act. In support of this contention the ld. representative for the assessee sought to derive strength from the case of CED vs. K. Lingamurti & Anr., referred to in the order o....

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....acts of the present case. 8. Sec. 18A of the Gift Tax reads as under: "Where any stamp duty has been paid under any law relating to stamp duty in force in any State on an instrument of gift of property in respect of which the gift tax payable exceeds one thousand rupees, the assessee shall be entitled to a deduction from the gift tax payable by him of an amount equal to the stamp duty so pai....

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.... gift tax payable but the gift tax actually paid. As pointed out earlier, in case of a gift to which s. 18A of the GT Act is applicable, from the gift tax payable a deduction has to be made of the amount equal to the amount of the stamp duty paid on the instrument of gift. In the instant case, under s. 18A, the gift tax paid was only Rs. 7,480. This amount was arrived at after deduction of the sum....