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1982 (12) TMI 26 - ANDHRA PRADESH HIGH COURTExtract: ....... of the partnership firm. We hold that even treating the subject-matter of gift as the relinquishment of the assessee s share in the goodwill of the firm, it is not exigible to tax under the G.T. Act. For the above reasons, the question referred to us is answered in the negative, i.e., in favour of the assessee and against the Department. No costs.
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