980. Transfers of value which cannot be potentially exempt.

Certain transfers of value cannot be potentially exempt. They are as follows:

  1.  

    (1)     a transfer which would in any case be exempt1;

  2.  

    (2)     a transfer on which tax is in any circumstance to be charged as if a transfer of value had been made (other than where there is a charge on the termination of an interest in possession)2;

  3.  

    (3)     a transfer of value consequent on a disposition treated