1988 (9) TMI 25

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.... judgment of the court was delivered by G. G. SOHANI, ACTG. C. J. -This is an application under section 26 (3) of the Gift-tax Act, 1958 (hereinafter referred to as "the Act"). The material facts giving rise to this application briefly, are as follows: The late E. Cowasji made a trust of his movable and immovable property by a deed of trust dated September 28, 1960. The beneficiaries under t....

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.... the Act. In this view of the matter, the Commissioner of Gift-tax (Appeals) did not decide the question of valuation of the gift. The Revenue preferred an appeal against the decision of the Commissioner before the Appellate Tribunal. The Tribunal upheld the finding of the Gift-tax Officer that there was gift and remanded the case to the Commissioner for recording his finding on the question of va....

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....as the application submitted in that behalf was rejected, the assessees have filed this application. Having heard learned counsel for the parties, we have come to the conclusion that the following question of law does arise out of the order passed by the Tribunal : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the subject-matter of th....