22 April 2024

Search Results for Tag : Gift

Judgments

Burden of proof to establish that transaction was entered into by pardanashin lady, after clearly understanding its nature, rest upon person who seeks to sustain a transaction(30.04.2018)

In instant case, Defendant No. 1 is the Appellant against a confirming judgment. Plaintiffs-Respondent Nos. 1 and 2 instituted the suit for declaratio.....

Tags : Gift deed, Execution, Fraud

A conditional gift only becomes complete on compliance of conditions(26.10.2018)

Present appeal has been filed against the judgment passed by the High Court whereby the High Court allowed the Second Appeal filed by the Respondent a.....

Tags : Gift, Condition, Completion

Notifications & Circulars

Commerce Minister reviews the functioning of the GIFT Special Economic Zone(10.10.2022)

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal reviewed the functioning of th.....

Tags : Review, Functioning, GIFT

Gifts up to a value of Rs. 50,000/- per year by an employer to his employee are outside the ambit of GST(10.07.2017)

It is being reported that gifts and perquisites supplied by companies to their employees will be taxed under GST. Gifts upto a value of Rs. 50,000/- p.....

Tags : Gifts, Ambit, GST

Constitution of an expert committee to 'Onshore the Indian Innovation to GIFT IFSC'(21.03.2023)

The Indian startup ecosystem is the third largest startup ecosystem in the world, boasting an impressive 115 unicorns (billion-dollar enterprises). In.....

Tags : Constitution, Expert committee, GIFT IFSC'

There must be a defeasance or default clause in order to make the gift revocable(02.09.2015)

A gift made by deed cannot be revoked unless there is a condition that on the failure to perform the condition the gift could be revoked. The Court di.....

Tags : Gift, deed, revoke, conditional

CBEC’s ambiguous clarification on gifts from abroad(11.04.2016)

The Central Board of Excise and Customs threw the baby out with the bathwater with its latest memo to customs and excise Chief Commissioners. As anyon.....

Tags : Customs, gift, courier, foreign country

Expert Committee on developing GIFT IFSC as 'Global Finance and Accounting Hub' submits report to IFSCA(28.03.2024)

The Expert Committee on developing the Gujarat International Finance Tech-City International Financial Services Centre (GIFT IFSC) as 'Global Finance .....

Tags : Expert Committee, GIFT IFSC, Report

News

Madras HC Dismisses Plea Seeking Directions to Extend Pongal Gift Hampers to Refugees(01.02.2022)

Madras High Court has dismissed a plea filed by Retd. Professor Ramu Manivannan seeking directions to the government of Tamil Nadu to extend the Ponga.....

Tags : Madras High Court, Extend Pongal Gift Hampers to Refugees

Conditional Gifts Incomplete Until Conditions are Complied With: Supreme Court(29.10.2018)

Supreme Court has held that a conditional gift only becomes complete on compliance of the conditions in the deed and the donor is within rights to can.....

Tags : Supreme Court, Conditional Gifts

SEBI Grants In-Principle Nod to BSE for Global Exchange(02.11.2016)

Market regulator SEBI has given in-principle approval to BSE to set up international exchange and clearing corporations at GIFT city.

Tags : SEBI, BSE, international exchange, GIFT city

Allahabad High Court Rules, ‘Gift after Marriage is Not Dowry’(25.10.2016)

Allahabad High Court has ruled that gift articles demanded at time of 'Kalewa' ceremony held after wedding does not amount to dowry unless demand is r.....

Tags : Allahabad High Court, gift , Marriage, Dowry

J&K&L HC to Judicial Officers: Don't Offer Gifts to Visiting High Court Judges(23.06.2022)

Jammu & Kashmir and Ladakh High Court has issued circular restricting judicial officers of the subordinate courts from receiving, seeing off, arrangin.....

Tags : Jammu & Kashmir and Ladakh High Court, Judicial Officers, Gifts

Govt Relaxes Norms Dealing with CSR, Directors Appointment, Audits for Ease of Doing Biz At GIFT City(20.01.2017)

Union Ministry of Corporate Affairs has issued two notifications, giving thereby more relaxations aimed at more 'ease of doing business' for companies.....

Tags : Union Ministry of Corporate Affairs, Gift Citybased International Finance Service Centre

ITAT: Cash Gift from Siblings During Medical Emergencies Can’t be Treated as ‘Unexplained’(02.08.2022)

Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the cash gift from brother and sister during medical emergencies cannot be treated as .....

Tags : ITAT, Medical Emergencies, Cash Gift

Madras HC Stays Tamil Nadu Government Decision to Gift Rs. 1000 to Ration Card Holders(10.01.2019)

Madras High Court has stayed a scheme under which Rs. 1,000 cash was to be distributed as Pongal gift to all ration card holders in the state.

Tags : Madras High Court, Pongal Gift

Supreme Court: Public Servant Can’t Show Gifts As Income From Legal Sources(16.02.2017)

SC has said that while it may be “legal” for public servants to accept gifts in cash and kind and later show it as part of their professional income f.....

Tags : Supreme Court, Public Servant, Gifts

Supreme Court: Public Servant Can’t Show Gifts As Income From Legal Sources(16.02.2017)

SC has said that while it may be “legal” for public servants to accept gifts in cash and kind and later show it as part of their professional income f.....

Tags : Supreme Court, Public Servant, Gifts

Madhya Pradesh HC: Giving Ceremonial Gift ‘Sword’ To Dignitary In Gurudwara 'Not Illegal'(26.04.2017)

Madhya Pradesh High Court has held that ceremonial gift given to a visiting dignitary in Gurudwara cannot be said to be an offence within purview of t.....

Tags : Madhya Pradesh High Court, ceremonial gift, Gurudwara

Cal HC: Subsequent Undertaking by Transferee to Provide Basic Amenities is Part of Transfer Deed(27.03.2023)

Calcutta High Court has held that declaration is in form of an undertaking given by transferee containing specific condition that he would look after .....

Tags : Calcutta High Court, Declaration, Gift Deed, Amenities

Calcutta High Court: Gift Deed is Not Invalid Just Because it was Registered After Donor's Death(18.06.2019)

Calcutta High Court has noted that a deed of gift cannot be said to be invalid only because it was registered after the death of donor. It observed th.....

Tags : Calcutta High Court, Gift Deed

ITAT, Mumbai: No Income Tax on Gift made by HUF to its Member(29.05.2017)

ITAT, Mumbai has held that Gift given by an HUF to its member is not taxable in hands of member under Income Tax Act since “HUF” can be treated as “re.....

Tags : ITAT, Mumbai, Gift, Income Tax

Mad. HC: 'Love and Affection' is a Deeming Consideration for Executing the Gift Deed(12.09.2023)

Madras High Court while observing that Section 23 of Senior Citizen Act can’t be mis-utilised for rejecting complaint on ground that there is no expre.....

Tags : Madras High Court, Gift Deed, Love and Affection

SC: Donee not Reqd to Examine Attesting Witness if there is no Particular Denial of Execution of Gift(25.09.2019)

Supreme Court has ruled that when the execution of the gift deed was not specifically denied in the suit filed then it was not mandatory for the Donee.....

Tags : SC, Gift

SC: Father's Self Acquired Property Given by Way of Gift or Will Retains Same Character(25.09.2019)

Supreme Court has ruled that as per Mitakshara Law of Succession, father’s self acquired property given to son by way of Will or Gift will keep the ch.....

Tags : SC, Gift

Kerala HC: Presents Gifted By Parents For Daughter's Welfare Not Dowry(14.12.2021)

Kerala High Court has ruled that presents given to the bride at the time of her marriage for her welfare will not count as dowry under the ambit of Do.....

Tags : Kerala High Court, Presents Gifted By Parents For Daughter's Welfare

Kerala HC: Presents Gifted By Parents For Daughter's Welfare Not Dowry(14.12.2021)

Kerala High Court has ruled that presents given to the bride at the time of her marriage for her welfare will not count as dowry under the ambit of Do.....

Tags : Kerala High Court, Presents Gifted By Parents For Daughter's Welfare

Gujarat High Court Issues Notice Over Input Tax Credit on Gifts(20.02.2020)

Gujarat High Court has issued notices to the Centre, State Government, Goods and Services Tax Council and Indirect Tax Board in a case related to the .....

Tags : Gujarat High Court, Input Tax Credit on Gifts

SC: Pharmaceutical Companies Gifting Freebies to Doctors is Prohibited by Law(23.02.2022)

Supreme Court held that pharmaceutical companies gifting freebies to doctors is prohibited by law and they cannot claim it as a deduction under Sectio.....

Tags : Supreme Court, Pharmaceutical Companies, Gifting Freebies to Doctors

SC: Sale/Gift of Vehicle Shall Not be Invalidated on Mere Failure of Transfer Vehicle Registration(11.04.2024)

Supreme Court has observed that the sale/gift transaction will not get invalidated merely on the ground that there has been a failure to get a transfe.....

Tags : Supreme Court, Vehicle Registration, Gift Transaction, Sale Transaction

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