1972 (9) TMI 23

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....to execute a settlement deed dated April 25, 1963, in their favour. Several items of properties in two different villages were given to the petitioners. This settlement was treated by the Gift-tax Officer as a gift coming within the purview of the Gift-tax Act and an order of assessment was passed after giving notice to the petitioners' father as donor. It appears that the petitioners' father did ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....document. According to them the properties covered by the settlement deed are all ancestral properties and their father, even in his capacity as the karta, could not execute a settlement deed or a gift deed in relation to the same. The settlement deed refers to the properties covered thereby as ancestral properties. The Gift-tax Officer while considering the question of the taxability of the trans....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s would have been passed. It is true the father of the petitioners had remained silent and inactive at the stage of the assessment proceedings but the assessment order passed by the Gift-tax Officer could be sustained only if the properties dealt with under the settlement deed are the self-acquired properties of the settlor. In view of the fact that the properties covered by the settlement deed ar....