1 IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL ORIGINAL ORIGINAL CIVIL JURISDICTION CIVIL JURISDICTION CIVIL JURISDICTION GIFT GIFT GIFT TAX TAX TAX REFERENCE NO.3 OF 1985 REFERENCE NO.3 OF 1985 REFERENCE NO.3 OF 1985 The The The Commissioner of Gift Tax Commissioner of Gift Tax Commissioner of Gift Tax ...... Appellant Appellant Appellant Bombay Bombay Bombay vs vs vs N.M.Cama N.M.Cama N.M.Cama Respondent Respondent Respondent Mr.P.S.Sahadevan Mr.P.S.Sahadevan Mr.P.S.Sahadevan for for for Appellant Appellant Appellant Mr.A.K.Jasani Mr.A.K.Jasani Mr.A.K.Jasani for for for Respondent Respondent Respondent CORAM CORAM CORAM : : : F.I.REBELLO AND F.I.REBELLO AND F.I.REBELLO AND R.S.MOHITE, R.S.MOHITE, R.S.MOHITE, JJ JJ JJ DATED DATED DATED : 4TH DECEMBER, 2007 : 4TH DECEMBER, 2007 : 4TH DECEMBER, 2007 P.C. P.C. P.C. 1.1.1. The tax incidence is less than Rs.Four lakhs. The tax incidence is less than Rs.Four lakhs. The tax incidence is less than Rs.Four lakhs. In In In the light of that, learned counsel does not the light of that, learned counsel does not the light of that, learned counsel does not press press press the reference. The reference is returned the reference. The reference is returned the reference. The reference is returned unanswered. unanswered. unanswered. The question of law if any is kept The question of law if any is kept The question of law if any is kept open open open to be answered in proper proceedings. to be answered in proper proceedings. to be answered in proper proceedings. Reference Reference Reference is disposed of accordingly. is disposed of accordingly. is disposed of accordingly. (F.I.Rebello, (F.I.Rebello, (F.I.Rebello, J) J) J) (R.S.Mohite, (R.S.Mohite, (R.S.Mohite, J) J) J) 2