AJIT K. SENGUPTA, J.

( 1 ) IN this reference under Section 26 (1) of the Gift-tax Act, 1958, the following question of law has been referred to this court for the assessment year 1974-75 :"whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the value of the immovable properties gifted by the assessee by a deed executed on April 13, 1973, but registered on July 13, 1973, should be deleted from the total taxable gift of the assessee for the assessment year 1974-75 ?"

( 2 ) THE facts, shortly stated, are as follows : The assessee filed a gift-tax return on August 20, 1974, declaring the value of the total gifts at Rs. 1,69,996. The Gift-tax Officer found that the gifts made by the assessee under a deed, registered on July 13, 1973, had not been included in the gifts returned by the assessee. He, therefore, included the amount of that gift being Rs. 1,36,242 while determining the value of the gift for the year under consideration.

( 3 ) THE assessee appealed to the Commissioner of Gift-tax (Appeals) and contended that the gift deed, though registered on July 13, 1973, was executed on April 13, 1973. It was also pointed out that the a

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