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2001 (9) TMI 47 - GUJARAT HIGH COURTExtract: .......filled. In our view, the Tribunal was therefore justified in law in holding that the gift of Rs.1 lakh was not taxable under the provisions of the Act. The question referred to us is therefore answered in the affirmative, i.e., in favour of the assessee and against the Revenue. The reference stands disposed of accordingly with no order as to costs.
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