TaxTMI 
TaxTMI 
1982 (6) TMI 164
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....s found to have been sold to him by the late R. Veeraswamy Reddiar, his father-in-law for consideration which is not adequate. The sale was said to of be lands admeasuring 26.65 acres made to the assessee for a consideration of Rs. 27,750 on 24th December, 1969 as against the value assigned to it by the Sub-Registrar at Rs. 58,065 for the purpose of collection of stamp duty on instrument of sale. ....
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....rt of these grounds except to say that he does not wish to give up the grounds. He, however, claimed that the assessee should be allowed as a deduction of the additional stamp duty that had to be paid on account of the enhanced value adopted by the Sub-Registrar which came to about Rs. 4,280. The ld. departmental representative supported the order of the AAC. As regards the deduction for the value....
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....onsideration. The only claim seriously urged before us is that the stamp duty on the additional amount paid should be allowed as a deduction allowed as a deduction u/s 18A of the GT Act. Section 18A provides that where any stamp duty has been paid under any law relating to stamp duty in force in any State Government on an instrument of gift of property in respect of which the gift-tax payable exce....
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....gift-tax in this case is charged not on the value of a gift actually made, but on the difference between the market value and the actual consideration for sale as a 'deemed gift' by virtue of s. 4(1)(A) of the GT Act. The instrument of gift talked of in s. 18A is the instrument by which the gifted property is conveyed from the donor to the donee. In the recent case, the property could be conveyed ....