| Citation(s) |
|---|
| 1978 SLG 466 1978 SLD 466 (1978) 112 ITR 934 |
Bombay High Court
GT REFERENCE No. 3 OF 1967, JULY 21, 22, 1977
KANTAWALA, C.J. AND TULZAPURKAR, J.
R.J. Joshi and V.J. Pandit for the Appellant. S.E. Dastur for the
Respondent
GT REFERENCE No. 3 OF 1967, JULY 21, 22, 1977
KANTAWALA, C.J. AND TULZAPURKAR, J.
R.J. Joshi and V.J. Pandit for the Appellant. S.E. Dastur for the
Respondent
Commissioner of Gift-tax
v.
Matilda Ferreira
Law:
Section:
Section 2(xii) of the Gift-tax Act, 1958 – Gift – Assessment year 1959-60 – In 1941, 'SR' agreed to purchase from municipality two plots as nominee of 'J' and assessee – In 1943, attorneys of 'SR' requested municipality to drafts two separate conveyances in respect of said plots and informed that in said conveyances 'SR' would be joining as confirming party – Subsequently, in 1954 attorneys of 'SR' requested municipality that both conveyances be taken in name of 'FF', daughter-in-law of assessee – Though sanction to preparation of conveyance deed in name of 'FF' was granted in 1954, conveyances were, however, actually executed in 1958 – To each one of these conveyances, there were three parties namely (1) ‘FF' as purchaser (2) ‘SR' as confirming party (3) Municipal Corporation - Whether beneficial interest of purchaser under contract to purchase was transferred by deed of conveyance as result of 'SR' joining therein as confirming party and by reason of such execution of conveyance in 1958 by three parties, there was gift within meaning of section 2 (xii) – Held, yes FACTS One 'SR' had offered to the municipality in 1941 to purchase two plots of land, namely plot Nos. 14 and 15, and the offer had then been accepted. In 1943, the attorney of 'SR' informed the municipality that 'SR' had acted as the nominee of 'J' and the assessee, who had actually paid the entire consideration money. By that letter, the attorneys requested the municipality that two separate conveyances be arranged for the plot in their favour and in said conveyances 'SR' would join as confirming party. By a letter dated 20-12-1943, the Estate Agent and Land Manager of the municipality informed the attorneys that the Deputy Municipal Commissioner (Improvements) had sanctioned the preparation of two separate conveyances as desired by them. There were certain disputes about the access to the two plots as a result of which actual execution of the conveyances was delayed. On 10-5-1954, the attorneys acting for 'SR'. and also for the assesseeinter alia, stated that their clients, namely, desired that both the conveyances of plot Nos. 14 and 15 be taken in the name of 'FF' (daughter-in-law of the…
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