Gift Tax Act, 1990
Section 3, 4(1)(chha), (Ja) and 12 r/w
Trust Act, 1882
Section 3 r/w
Income Tax Ordinance, 1984
Section 160
Get the benefit of exemption of tax under section 4(1)(chha) and (Ja) of the Gift Tax Act, 1990 read with section 3 of the Trust Act, 1882–– On a plain reading of Section 4(1) (ja) of the Act, 1990 Appellate Division has found that that if the gift is made to the son, daughter, father, mother, husband, wife, full brother or full sister of the donor, then the said gift shall be exempt from the gift tax or be excluded from the ambit of gift tax chargeable under section 3 of the Gift Tax Act, 1990. ––This Division is of the view that the High Court Division rightly held that the assessing officer (Extra Assessment Commissioner of Taxes) and the appellate authorities below did not commit any illegality in imposing gift tax as contemplated under section 3 of the Gift Tax Act, 1990 and in rejecting the claim of exemption; because, in view of the provisions of the Gift Tax Act, 1990, the claim of exemption of the assessee-applicant does not have any legal basis. .....Dr. Muhammad Yunus =VS= Commissioner of Taxes, Dhaka, (Civil), 2023(2) [15 LM (AD) 154] ....View Full Judgment

Gift Tax Act, 1990
Section 4(ja) And
Income Tax Ordinance, 1984
Section 53M:
The intention of the legislators when the Gift Tax Act, 1990 was enacted was to exempt certain persons from tax if the gift was made to the persons stated in Section 4(ja) of the Gift Tax Act, 1990. Moreover, we have also found that the impugned Section 53M of ITO was only inserted in the Finance Act 2010, while the Gift Tax Act, which was enacted in 1990, is an earlier law and is still very much a provision of law, since no amendment or changes to the law have been brought to till present. Therefore the provisions the Gift Tax Act, 1990 shall prevail over any insertion that might have been brought into the ITO 1984 and there can be no room for any presumptions or assumptions that tax must be paid by all in case of any gift which might be made to any person irrespective of his or her relationship with the donee of the gift and to presume such a thing is a serious misinterpretation of the law and is a misinterpretation of the intention of the legislators and shall result in serious miscarriage of justice. ...Asoke Das Gupta Vs Ministry of Finance & ors, (Civil), 7 SCOB [2016] HCD 148 ....View Full Judgment

Gift Tax Act, 1990
Section 4 And
Income Tax Ordinance, 1984
Section 53M:
Section 53M Explanation 1 is contrary to the rest of the provisions of the ITO, 1984, being against the sprit and intent of the Ordinance and also contrary to the Section 4 of Gift Tax Act, 1990. Therefore the impugned collection of advance tax against transfer of shares to the daughter of the petitioner is unlawful and without lawful authority. ...Asoke Das Gupta Vs Ministry of Finance & ors, (Civil), 7 SCOB [2016] HCD 148 ....View Full Judgment