Supreme Court of India
Sri Jagatram Ahuja v. The Commissioner of Gift Tax, Hyderabad
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1 Supreme Court bench has cited this judgment.
What the Court ordered
For the reasons stated above, we conclude that the High Court committed an error in answering the question F in negative i.e. in favour of the Revenue and against the assessee-appellant.
Judgment, page 14
From the headnote
Gift Tar, Act, 1958-Section 2 (xii), (xiv)-Release by partner of his rights in favour of another partner in assets of firm for a fvced consideration when the market value of assets in proportion to his share is in excess thereof-Whether constitutes transfer of property for Gift tax purposes-Held, it does not constitute a transfer of property and therefore not liable to Gift tax. Interpretation of Statutes : Words and phrases defined in one statute as judicially interpreted not a guide to construction of the same words or expressions in another statute unless both the statutes are para-materia…
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Where later benches applied it
Of those, 1 referred to
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