Section 2 in The Gift- Tax Act, 1958

2. Definitions. In this Act, unless the context otherwise requires,-

(i) " Appellate Assistant Commissioner" means a person empowered to exercise the powers of the Appellate Assistant Commissioner of Gift- tax under section 8;

(ii) 2[ " Appellate Tribunal" means the Appellate Tribunal constituted under section. 252 of the Income- tax Act;

(iii) " assessee" means a person by whom gift- tax or any other sum of money is payable under this Act and includes-

(a) every person in respect of whom any proceeding under this Act has been taken for the determination of gift- tax payable by him or by any other person or the amount of refund due to him or such other person;

(b) every person who is deemed to be an assessee under this Act;

(iv) " assessment" includes reassessment;

1. This Act has been extended to the Union territories of Dadra and Nagar Haveli, Goa, Daman and Diu, and Pondicherry, with modifications, by Reg. 3 of 1963, s. 3 and Sch. (w. e. f. 1- 4- 1963 ).

2. Subs. by Act 53 of 1962, s. 2, for cls. (ii), (iii) and (iv) (w. e. f. 1- 4- 1963 ).

(iva) " assessment year" means the period of twelve months commencing on the 1st day of April, every year;]

(v) " Board" means the 1[ Central Board of Direct Taxes constituted under the Central Boards of Revenue Act, 1963 ]; (54 of 1963 ).

(va) 2[ " charitable purpose" includes relief of the poor, education, medical relief, and the advancement of any other object of general public utility not involving the carrying on of any activity for profit;]

(vi) " Commissioner" means a person empowered to exercise the powers of a Commissioner of Gift- tax under section 9;

(via) 5[ " Commissioner (Appeals)" means a person empowered to exercise the powers of a Commissioner of Gift- tax (Appeals) under section 8A;]

(vii) " company" means a company as defined in section 3 of the Companies Act, 1956 , (1 of 1956 ) and includes a foreign company within the meaning of section 591 of that Act;

(viia) 2[ " Director of Inspection" includes an Additional Director of Inspection, a Deputy Director of Inspection and an Assistant Director of Inspection;]

(viii) " donee" means any person who acquires any property under a gift, and, where a gift is made to a trustee for the benefit of another person, includes both the trustee and the beneficiary;

(ix) " donor" means any person who makes a gift;

(x) " executor" means an executor or administrator of the estate of a deceased person;

(xi) " firm" has the meaning assigned to it in the Indian Partnership Act, 1932 ; (9 of 1932 .)

(xii) " gift" means the transfer by one person to another of any existing movable or immovable property made voluntarily and without consideration in money or money' s worth, and 3[ includes the transfer or conversion of any property referred to in section 4, deemed to be a gift under that section];

(xiii) " Gift- tax Officer" means the Income- tax Officer authorised to perform the functions of a Gift- tax Officer under section 7;

(xiv) 4[ " Income- tax Act" means the Income- tax Act, 1961 ;] 43 of 1961 . (43 of 1961 .)

1. Subs. by Act 54 of 1963, s. 5, for certain words (w. e. f. 1- 1- 1964 ).

2. Ins. by Act 53 of 1962, s. 2 (w. e. f. 1- 4- 1963 ).

3. Subs. by Act 32 of 1971, s. 37, for certain words (w. e. f. 1- 4- 1972 ).

4. Subs by Act 53 of 1962, s. 2, for cl. (xiv) (w. e. f. 1- 4- 1963 ).

5. Ins. by Act 29 of 1977, s. 39 and Sch. V (w. e. f. 10- 7- 1978 )

(xv) " Income- tax Officer" means a person appointed to be an Income- tax Officer under the Income- tax Act;

(xvi) " Inspecting Assistant Commissioner of Gift- tax" means a person empowered to exercise the functions of an Inspecting Assistant Commissioner of Gift- tax under section 10;

(xvia) 1[ " Inspector of Gift- tax" means an Inspector of Income- tax empowered to work as an Inspector of Gift- tax under section 11;

(xvib) " legal representative" has the meaning assigned to it in clause (11) of section 2 of the Code of Civil Procedure, 1908 ;] (5 of 1908 .)

(xvii) " partner" has the meaning assigned to it in the Indian Partnership Act, 1932 , (9 of 1932 .) and includes a person who being a minor has been admitted to the benefits of partnership;

(xviii) " person" includes a Hindu undivided family or a company or an association or a body of individuals or persons, whether incorporated or not;

(xix) " prescribed" means prescribed by rules made under this Act;

(xx) previous year", in relation to any assessment year-

(a) in the case of an assessee 2[ having no source of income, profits or gains or] having a source of income, profits or gains in respect of which there is no previous year under the Income- tax Act, means the twelve months ending on the 31st day of March immediately preceding the assessment year;

(b) in the case of an assessee having different previous years under the Income- tax Act for different sources of income, profits or gains, means that previous year of twelve months determined as the previous year 3[ under sub- clause (a) or sub- clause (b), as the case may be, of sub- section (1) of section 3 of the Income- tax Act or such period determined as the previous year under clause (c) of that sub- section, whichever expired last];

1. Ins. by Act 53 of 1962, s. 2 (w. e. f. 1- 4- 1963 ).

2. Ins. by Act 12 of 1959, s. 27 (w. e. f. 1- 4- 1959 ).

3. Subs. by Act 53 of 1962, s. 2, for certain words (w. e. f, 1- 4- 1963 ).

(c) in the case of any other assessee, means the previous year as defined in 1[ section 3] of the Income- tax Act if an assessment were to be made under that Act for that year: 2[ Provided that where a person who has not been assessed under this Act for any assessment year makes a gift on a date which does not fall within a previous year as defined in sub- clause (a) or sub- clause (b) or sub- clause (c), the previous year shall be the twelve months ending on the 31st day of March immediately preceding the assessment year: Provided further that where an assessment has been made under this Act for any assessment year in respect of gifts made by an assessee during any previous year, the meaning of the expression" previous year" as then applicable to him shall continue to apply for any subsequent assessment year unless the assessee is allowed to vary it with the consent of the Gift- tax Officer who may, in allowing any such variation, impose such conditions as he may think fit;]

(xxi) " principal officer", used with reference to a company or any association of persons, means-

(a) the secretary and treasurer, manager, managing agent, managing director or agent of the company or association; or

(b) any person connected with the management of the affairs of the company or association upon whom the Gift- tax Officer has served a notice of his intention of treating him as the principal officer thereof;

(xxii) " property" includes any interest in property, movable or immovable;

(xxiii) " taxable gifts" means gifts chargeable to Gift- tax under this Act;

(xxiv) " transfer of property" means any disposition, conveyance, assignment, settlement, delivery, payment or other

1. Subs. by Act 53 of 1962, s. 2, for" clause (11) of section 2" (w. e. f. 1- 4- 1963 ).

2. Ins. by Act 12 of 1959, s. 27 (w. e. f. 1- 4- 1959 ).

alienation of property and, without limiting the generality of the foregoing, includes-

(a) the creation of a trust in property;

(b) the grant or creation of any lease, mortgage, charge, easement, licence, power, partnership or interest in property;

(c) the exercise of a power of appointment of property vested in any person, not the owner of the property, to determine its disposition in favour of any person other than the donee of the power; and

(d) any transaction entered into by any person with intent thereby to diminish directly or indirectly the value of his own property and to increase the value of the property of any other person; CHAP CHARGE OF GIFT- TAX AND GIFTS SUBJECT To SUCH CHARGE CHAPTER II CHARGE OF GIFT- TAX AND GIFTS SUBJECT To SUCH CHARGE