18 We were also referred to a Full Bench decision of the Gujarat High Court

18 we were also referred to a full bench decision of

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18. We were also referred to a Full Bench decision of the Gujarat High Court reported in Dr. A Shukla v. Commissioner of Gift-tax, [1969] 74 I.T.R. 167, 174 (Guj) [F.B.]. In that decision also Section 2(xxiv) of the Act came up for consideration. It is said in that decision that the words, conveyance, etc., mentioned in Section 2(xxiv) "though undoubtedly wide, are referable only t those cases where there is passing of ownership of property or interest in property from one p to another, ..... " From this passage also it is clear that, unless ownership of property or interes property passes from one person to another, there can be no transfer of property as contempl Section 2(xxiv) of the Act. 19. We have had not the advantage of seeing the original document which is in Malayalam. Th document describes itself as a deed of settlement. The learned counsel for the revenue invited attention particularly to Clauses 5 to 8. Clause 5 says that the executant (assessee) has come conclusion that he should effect an arrangement during his life-time itself and hence the docu Commissioner Of Gift-Tax vs R. Kesavan Nair on 6 April, 1973 Indian Kanoon - 6
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is being registered. In Clause 6 he says that the properties have been divided by him and are included in five schedules as A to E; " A schedule to my wife, Bhargavi Amma, and minor, Amb Devi, and B schedule to my son, Govindan Nair, and C schedule to my daughter, Rajalekshmi Amma, and E schedule to my minor son, Madhavan Nair called Revi, have been set apart". In 7 the executant says that the respective shares have been allowed by him to improve the prop and to construct buildings and to get pattas in their names, but the possession and enjoyment entire properties will continue to be exclusively with him during his lifetime and after his lifet his wife, Bhargavi Amma, is to take possession and enjoy all properties and nobody has any ri object to her taking and enjoying the said properties. It is also provided in that clause that the respective sharers will take possession and enjoy the properties with complete rights of aliena after the death of the executant's wife. In Clause 8 the executant says that, if any document is executed during his lifetime, only such documents executed by himself and the respective sha would be valid; that after his death if any document is to be executed in respect of the A sched properties (properties allotted to Bhargavi Amma and minor, Ambika Devi), his wife, Bhargavi Amma, has full and exclusive right to do so and the consent of Ambika Devi is not necessary ; further provided that after the lifetime of Bhargavi Amma the entire properties comprised in t schedule will devolve on Ambika Devi. 20. We are unable to find any provision for vesting the properties in the executees. In the prov contained in Clause 6 dividing the properties into five schedules, the executant states that he setting apart those schedules of properties in favour of the respective sharers. That there is n vesting clause is also clear from Clause 8. That clause in the earlier portion says that during t
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