| Citation(s) |
|---|
| 1978 SLG 28 1978 SLD 28 (1979) 39 TAX 58 |
Lahore High Court
T.R. No. 110 of 1971 (P.C.R. No. 143 of 1971), Decided: on 4-3-1977
SHAMEEM HUSSAIN QADRI AND GUL MUHAMMAD KHAN, JJ
Muhammad Afzal Lone for the Applicant. Muhammad Amin Butt, for the
Respondent
T.R. No. 110 of 1971 (P.C.R. No. 143 of 1971), Decided: on 4-3-1977
SHAMEEM HUSSAIN QADRI AND GUL MUHAMMAD KHAN, JJ
Muhammad Afzal Lone for the Applicant. Muhammad Amin Butt, for the
Respondent
CQMMKSSIONER OF INCOME TAX, RAWALPINDI
VS
NOMAN JAN ERKIN
Law: Gift Tax Act, 1958
Section: 27
[Gift Tax Act, 1963 (XIV of 1963)]..........Section 27 Reference to High Court-Tribunal facing market value of assessed property by reducing the market value assessed by Gift Tax Officer-Finding whether gives rise to question of law-Held no. JUDGMENT [The judgment of the Court was delivered by SHAMEEM HUSSAIN KADRI J.].-By this petition under Section 26 of the Gift Tax Act the Commissioner of Gift Tax, Rawalpindi, has prayed for answer to the following question : "Whether on the facts and in the circumstances of the case the Income Tax Appellate Tribunal was justified in modifying the value of the property in question?" 2. The assessee in this case made a gift of bungalow known as Erkin Palace, Murree Road, Rawalpindi, in favour of his wife Mst. Sultana Begum and her three children. The Gift Tax Officer assessed the market value of the property at Rs. 5,40,000 by this order dated 13th June 1970. The…
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