The law on taxation of gifts as embodied in clauses (v) to (viia) of s. 56(2) has wide ramifications and given rise to numerous controversies. The authors have meticulously analyzed the law, identified the problem areas and provided comprehensive answers, supported by extensive reference to landmark judgements

The importance of ‘Interpretation of statutes’ cannot be overemphasized because a matter is won or lost depending on the ‘interpretation’ placed by the Court on the law. The author has done deep research into the subject and explained the numerous concepts therein in a crisp and clear manner. The author has cited numerous landmark judgements to support the various important concepts

Hon’ble Chief Justice of India Shri. S. H. Kapadia gives ample proof of why he is regarded as a finance whiz. In a hard-hitting article, he makes extensive use of facts and figures to speak his mind out on a wide range of drawbacks plaguing the economy. The Learned Judge minces no words in criticizing the tax reforms proposed by the Government. He argues that the piecemeal reforms are “cosmetic” and “meaningless” if the root causes of the problems are not addressed. The Learned Judge also draws upon his immense experience to make wide ranging suggestions on what should be done to set right the Indian economy