Simultaneous invocation of Sec 52 of IT Act and Sec 4(1) of Gift Tax Act.

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....ty of sec.4(1)(a) of the G.T.Act in cases in which the provisions of sec.52 of the I.T.Act are invoked. 2. A doubt has been raised in view of the different high court judgements whether provisions of sec.4(1) of the G.T.Act and provisions of sec.52 of the I.T.Act can be invoked simultaneously in respect of the same transaction. 3. The Delhi High court in the case of Shiv Shankar Lal vs. CIT ....