Sabyasachi Mukharji, J. - (1.) This reference under Section 26(1) of the G.T. Act, 1958, poses the following question : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that jewellery, cash and fridge of the value of Rs. 67,744 given by the assessee to Smt. Jayasree Mohta, at the time of her marriage, did not fall within the ambit of the term "gift" as defined in Section 2(xii) of the Gift-tax Act, 1958 ? "
(2.) The assessee is an HUF. The proceedings out of which this reference arises relates to the gift-tax assessment for the assessment year 1970-71. The gift made by the assessee-HUF during the previous year included the following amounts given to Smt. Jayashree Mohta, daughter of Sri B.K. Birla, karta of the assessee-family, at the time of her marriage. Those were as follows : JUDGEMENT_72_ITR137_1982Html1.htm
(3.) The assessee disclosed the value of all the gifts amounting to Rs. 1,33,744 which included this gift of Rs. 67,744. This amount of Rs. 67,744 was claimed as exempt on the ground that these were marriage expenses. The ITO disallowed the claim of the assessee.;