Partly allowed
The Commr. of Gift Tax, Tvm. v. G.George Varghese,Kollam
Kerala HCITR/15/1998
Case brief
AI extract
What is this about?
In a tax reference, the High Court held that a prior Division Bench judgment relied upon by the Revenue is no longer good law due to a subsequent Full Bench decision. The court followed the Full Bench judgment, answered the question against the Revenue, and ordered consequential action by the Tribunal.
What did the court decide?
Answered the question against the Revenue and in favour of the assessee; directed the Tribunal to issue consequential orders.