2009 (2) TMI 406

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.... Gift-tax Act, 1958 at the instance of the Commissioner of Gift-tax for the opinion of this court on the following question of law: "Whether on the facts and in the circumstances of the case, the Tribunal was justified in holding that there was no gift of 29 tolas of gold made by the late Shri Roshanlal Goyal to his daughter-in-law Smt. Usha Goyal at the time of marriage ?" 2. The assessment....

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....rther appeal before the Income-tax Appellate Tribunal, Jaipur, it was held that the ornaments given to the daughter-in-law is a social and moral obligation and the value of the ornaments is not taxable. 3. We have heard learned counsel for the petitioner. Learned counsel for the respondent is not present. 4. Learned counsel for the petitioner has submitted that this point, "whether the ornam....

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.... immovable property. It may at best be a social obligation and cannot be treated as a moral obligation under the Hindu law to settle any movable and immovable property on the daughter-in-law. It is nothing but a voluntary transfer by the assessee to another person and it will definitely fall within the definition of 'gift' as provided in section 2(xii) of the Act." 6. We are of the view that a ....