Gift of movable property. Procedure.
Requirement the second part of Section 123 of TP Act dealing with gifts of movable property, simply requires that gift of movable property may be effected either by a registered instrument signed as aforesaid or by delivery.
Insofar as the gifts of immovable property are concerned, Section 123 makes transfer by a registered instrument mandatory.
Renikuntla Rajamma Vs. K. Sarwanamma (2014) 9 SCC 445