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2001 (6) TMI 59 - PUNJAB AND HARYANA HIGH COURTExtract: .......mative and in favour of the assessee. It is held that for working out the value of the deemed gift of March 20, 1979, reference could be made to the balance-sheet of the company as on March 31, 1978, and not to the balance-sheet as on March 31, 1979. Since no one has appeared on behalf of the respondent-assessee, there will be no order as to costs.
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