Section 3, 4(1)(chha), (Ja) and 12
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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
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Dr. Muhammad Yunus =VS= Commissioner of Taxes, Dhaka |
15 LM (AD) 154 |
Section 4(ja)
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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
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Asoke Das Gupta Vs Ministry of Finance & ors |
7 SCOB [2016] HCD 148 |
Section 4
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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
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Asoke Das Gupta Vs Ministry of Finance & ors |
7 SCOB [2016] HCD 148 |