1980 (1) TMI 141

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..... 2. The only contention raised by the Revenue is that the Commr., of GT (A) erred in holding that the value of the lands gifted by the assessee to M/s Devi Educational Institution in exempt under s. 5(1)(v) of the GT Act. The assessee, a HUF, claimed exemption in respect of the land gifted to M/s Devi Educational Institution on 31st Dec., 1973. The GTO observed that the claim was not admissibl....

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.... s. 80G(5)(1). Consequently he held that gift of land to the above institution by the assessee was exempt under s. 5(1)(v) of the GT Act. He also noticed that the Commr., of IT, Tamilnadu-IV, by his order, dt. 6th Jan., 1978, had granted exemption in respect of donations made to the above institution under s. 80G from 1st April, 1974 to 31st March, 1978, which also showed that the above institutio....

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....e order of the Tribunal relied on by the CGT (A) has not been accepted by the Department and that the value of the land gifted by the assessee to M/s Devi Educational Institution is liable to gift-tax. The only ground on which the GTO rejected the claim of the assessee was not that the assessee did not produce a certificate in respect of the above institution for exemption. Having regard to the fa....