Gift Tax Officer vs Sri Bhupatiraju Venkata Narasimha Raju

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

1966 Supreme(Online)(AP) 5

ANDHRA PRADESH HIGH COURT
, J
Gift Tax Officer – Appellant
Versus
Sri Bhupatiraju Venkata Narasimha Raju – Respondent

Table of Content
1. essentials of the cases related to family settlements to assess tax liability. (Para 1 , 2)
2. discussion regarding the definitions and interpretations under the gift tax act. (Para 3 , 4)
3. analysis of the tax consequences of the gifted properties under the act. (Para 5 , 6 , 7)
4. clarification of obligations under the gift tax relating to the legal implications of gifts. (Para 8)

1. These two cases, which have been referred to us under S. 28(1) of the Gift Tax Act , (18 of 1958), relate to three settlement deeds dated 20-5-1957, 11-10-1957 and 23-1-1959 executed by Sri Bhupatiraju Venkata Narasimha Raju hereafter mentioned as the assessee. By the first settlement deed, he gave absolutely, out of paternal affection 11 items of land of the total extent of Ac. 17-68 cents, stated to be his immoveable property to his first three unmarried minor daughters, Kausalya, Krishnaveni and Prabhavathi, represented by their mother Appallanarasaiah as guardian. By the second settlement deed he similarly gave 7 items of land of the total extent of Ac. 7-28 (which appears to be a mistake for Ac. 6-79 cents) described as being in his possession and enjoyment as on right, to his t