Section 47(iii)

CA Ashwani Agarwal (Practice) (3049 Points)

01 June 2011  

A person is intending to gift his prpoerty to the Son of his brother. As we know that section 47(iii) doesn't regard gift as transfer. I wanted to know the CONDITIONS TO BR FULFILLED to fulfill the requirements of this section.

The implications of Section 56(2)(vii) is already known.

 

Regards.