TaxTMI 
TaxTMI 
1982 (6) TMI 133
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....Rathi, the bride was presented with ornaments, valued at Rs. 79,449 by the assessee at the time of her reception in the family. According to the assessee, the amount represented the expenditure incurred by the assessee. which is an HUF, on the eve of marriage during the accounting year in issue. It is admitted by both the sides that the marriage had taken place on 6-3-1975 and Smt. Suman Rathi, the bride was presented with ornaments, valued at Rs. 79,449 by the assessee at the time of her reception in the family according to the assessee, the account represented the expenditure incurred by the assessee. Which is an HUF, on the eve of marriage of Suman with Pradeep Kumar Rathi. Therefore, according to him, it was not liable to be considered ....
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....me of marriage, it was not liable to be brought within the mischief of gift as provided in the provision relating to the Gift-tax Act. He further relied upon the decision of Calcutta High Court in CIT v. Basant Kumar Aditya Birla (1982) 26 CTR (Cal.) 17, where their lordships considered the question of gift made by an HUF to the daughter of the Karta at the time of her marriage. In that view of their lordships, such a gift, as was made by the HUF at the time of the marriage of the daughter of the Karta, did not attract the provisions of the Gift-tax Act. On the basis of this decision, it was claimed that the aforesaid gift made on the occasion of the marriage was not liable to be caught within the mischief of a taxable gift. The departmenta....
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....omary presents are made in accordance with the status and standing of the family by the members of the family and other relatives. These presents are made in view of the custom and there is no possibility of any bride refusing such presents, which are made in obedience and pursuit of set custom or usage. There is no intention on the part of the persons making presents to make a gift to the bride on such occasion. The intention is only to observe and fulfil the needs of the custom and usage. Their lordships of the Supreme Court have held that partition of Hindu joint family assets does not result in a transfer. Similarly, they have held that threwal into common hotch-potch does not result in a transfer of a gift. On the same analogy, we may ....
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....o the GTO, Rule ID of the Act was applicable for valuing the shares, a finding which has been endorsed by the AAC without giving any reason. In this connection, our attention has been drawn by the counsel for the assessee that in GTA No. 5/79, a similar question had cropped up and the Tribunal had found that the AAC had given no reason for adopting the Wealth-tax Rule ID for valuing the unquoted shares gifted by the donor. Following that, we think it proper that the matter should go back to the AAC, who should record a proper finding in accordance with the directions given by the Tribunal in the above order. Similarly, we cannot uphold the refusal of the AAC to admit additional ground. It may be that the particular aspect of the question wa....