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Income-tax---Gift--Gift of property being valid from the date of its declaration. income disclosed by the assessee (donee) has to be charged to tax in his hands from the date of declaration of the gift. I. T. A. No. 313(IB)/87-88 fol. ORDER Brief facts giving rise to this appeal are that the assessee, who is an individual, filed a return of income to declare income from property to the extent of Rs.33,282 in respect of the charge year 1986-87, under the self-assessment scheme. However, as case of the assessee was set apart for detailed scrutiny, assessment relating to the charge year 1986-87, was finalized under section 62 of the Income-tax Ordinance, 1979 (hereinafter called the Ordinance). In consequence thereof, the Income-tax Officer by virtue of order, dated 10-6-1987, filed proceedings in respect of the assessee and directed that income from property be assessed in the hands of original allottees. In this connection, relevant part of assessment order is set out below: - "The contention made by the assessee cannot be accepted as we cannot be sure at this stage whether the C.D.A. will transfer the building, Moreover, if it does, the ownership will be accepted from the date of transfer. Hence, proceedings are filed in this case and her share will be added back to the income of six persons who were the original allottees of the building." 2. The assessee having taken exception to the filing of proceedings in her case, filed an appeal before learned A.A.C. which was disposed of vide appeal No.1176, dated 27-4-1987. While disposing of appeal of the assessee, learned A.A.C. concluded as under:- "The issue in this case has already been decided in my order in Appeal No. 568, dated 20-1-1987. On this basis, the Income-tax Officer is directed to assess property income as declared. " 3. The department having taken exception to the finding of learned A.A.C., filed second appeal before the Tribunal which after hearing has been disposed of today and my decision on it follows in the paras hereafter. 4. The question whether validity of gift should be considered from the date of declaration or its entry in the record of CDA, earlier came up for consideration in a case…

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