1988 (12) TMI 106

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....March 6, 1972. He must consider himself fortunate that he has been the owner of a substantial item of property and could have its enjoyment without any monetary investment from his private funds. When the transaction is exigible to gift-tax, naturally, tax has to be paid. The assessee is the donor. An assessment was made. Tax was determined. But it was not paid. The assessing authority took more t....

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....ould not be said that the opinion of the officer was without any basis or was formed in an arbitrary or perverse manner. The petitioner did not choose to put forward his contentions before the Gift-tax Officer, though he had indicated some of the complaints before the Tax Recovery Officer. The authority before whom his grievances were highlighted did consider the same but found them untenable and ....