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.10 OF 1979 REFERENCE NO.10 OF 1979 REFERENCE NO.10 OF 1979 The The The Commissioner Commissioner Commissioner of Gift Tax Pune . Applicant of Gift Tax Pune . Applicant of Gift Tax Pune . Applicant vs vs vs Shri Shri Shri S.B.Jakotia S.B.Jakotia S.B.Jakotia ...... Respondent Respondent Respondent Mr.P.S.Sahadevan Mr.P.S.Sahadevan Mr.P.S.Sahadevan for for for Applicant Applicant Applicant Mr.A.K.Jasani Mr.A.K.Jasani Mr.A.K.Jasani with with with Mr.S.N.Inamdar for Respondent Mr.S.N.Inamdar for Respondent Mr.S.N.Inamdar for 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 liability in the references is less The tax liability in the references is less The tax liability in the references is less than than than Rs.4,00,000/-. In the light of that, learned Rs.4,00,000/-. In the light of that, learned Rs.4,00,000/-. In the light of that, learned counsel counsel counsel does not press the reference. The does not press the reference. The does not press the reference. The reference reference reference is returned unanswered. The question of is returned unanswered. The question of is returned unanswered. The question of law law law is kept open to be answered in proper is kept open to be answered in proper is kept open to be answered in proper proceedings. proceedings. proceedings. 2.2.2. The reference is disposed of accordingly. The reference is disposed of accordingly. The reference 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