IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE V.K.MOHANAN FRIDAY, THE 18TH SEPTEMBER 2009 / 27TH BHADRA 1931 GTA.No. 17 of 2009() -------------------- GTA.10/COCH/2006 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT: -------------------- THE COMMISSIONER OF GIFT TAX, COCHIN. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): --------------- M/S. PIONEER NIRMAN INDIA PVT. LTD., (FORMERLY M/S PIONEER SHOPPING COMPLEX PVT LTD., PLOT NO.1, MARINE DRIVE, KOCHI-31. THIS GIFT TAX APPEAL HAVING COME UP FOR ADMISSION ON 18/09/2009,THE COURT ON THE SAME DAY PASSED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & V.K.MOHANAN, JJ. .................................................................... G.T. Appeal No.17 of 2009 .................................................................... Dated this the 18th day of September, 2009. JUDGMENT Ramachandran Nair, J. The question raised is whether respondent could be assessed on deemed gift being the difference in value between the actual sale consideration and the value of the sold property determined under the Wealth Tax Rules. However, the Tribunal has rejected the case of the department by confirming the order of the Commissioner of Gift Tax (Appeals) on the ground that the Appropriate Authority under the Income Tax Act accepted the valuation and granted approval for sale at the declared price. We do not find any substantial question of law arising from the order of the Tribunal, more so because transaction is admittedly between strangers and there is no presumption of deemed gift. The appeal is consequently dismissed. C.N.RAMACHANDRAN NAIR Judge V.K.MOHANAN Judge