Law:

Section:

Section 269A(h) of the income-tax act, 1961-Acquisition of immovable property-Transfer-Whether gift of certain property which has been recognised as such and subjected to gift-tax amounts to 'transfer' of that property within the meaning of section 269a(h) so as to attract provisions of chapter xxa-held, no Words and phrases-'Transfer' as defined in section 269A(h ) of the income-tax act, 1961 Facts The petitioner received certain property as a gift from certain donors. The gift-tax proceedings in respect of the gift were completed. However, before the completion of these proceedings, the IAC issued a notice to the petitioner under section 269D(i) proposing to acquire the said property under the provisions of Chapter XXA. On writ: Held Section 269A(h) defines transfer for the purpose of Chapter XXA as a transfer by way of sale or exchange. Other modes of transfer recognised as such for purposes of the Transfer of Property Act or other law do not fall within the meaning of the term 'transfer' occurring in section 269A(h ). In the instant case, it was clear that the concerned property had passed to the petitioner by way of gift and not by sale or exchange. The provisions of Chapter XXA were, therefore, not attracted. The impugned notice issued by the IAC was, therefore, quashed. ORDER 1. In this petition under article 226 of the Constitution, the petitioner has challenged notice No, CR 62/8231/1976-77 Acq/B, dated 18-7-1977 (Exhibit E), issued by the IAC, respondent No. 1, purporting to be under section 269D (1) of the Income-tax Act, 1961 ('the Act'). 2. One Smt. Parvathamma and her daughter Smt. Siddamma of Bangalore were the owners of certain immovable properties situated in New Tharagupet, Bangalore, which are fully described in the schedule to the gift deed dated 26-11-1976 (Exhibit A). Smt. Parvathamma and Smt. Siddamma gifted the said property to the petitioner under the gifted deed dated 26-11-1976 (Exhibit A) and the GTO has also levied gift-tax on that gift under the Gift-tax Act, 1957. But, before completing the proceedings under the Gift-tax Act, the IAC has issued the impugned notice proposing to acquire the property under Chapter XXA of the Act. 3.…

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