Cash gift to siblings proprietary concern

Gift to relatives is exempt u/s 56(2)

Do make a gift deed as an evidence , mentioning therein that its out of natural love, no consideration received .

"relative" means,—

  (i) in case of an individual—

(A) spouse of the individual;

(B) brother or sister of the individual;

(C) brother or sister of the spouse of the individual;

(D) brother or sister of either of the parents of the individual;

(E) any lineal ascendant or descendant of the individual;

(F) any lineal ascendant or descendant of the spouse of the individual;

(G) spouse of the person referred to in items (B) to (F); and

 (ii) in case of a Hindu undivided family, any member thereof;

See the case is as follows:

My sibling carries on a proprietary concern under the name M/s XYZ Enterprises.

Now i gift this concern  Rs.5000/- pm as a cash gift. Is this possible? Will it attract tax penality? or will this cash gift be exempted on the grounds that the Proprietor and it proprietary concern are one and the same.