1992 (6) TMI 16

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....ARIPOORNAN J. -At the instance of the Revenue, the Incometax Appellate Tribunal has referred the following question of law for the decision of this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that there was no deemed gift under section 4(1) read with section 2(xxiv) of the Gift-tax Act, 1958 ? " The respondent is one of the....

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....t. The order passed by the Gift-tax Officer was cancelled. The order passed by the first appellate authority was affirmed by the Appellate Tribunal relying on the decision of the Madras High Court in Addl. CGT v. P. Krishnamoorty [1977] 110 ITR 212. It is thereafter at the instance of the Revenue that the Income-tax Appellate Tribunal has referred the question of law formulated hereinabove for the....