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1982 (2) TMI 49 - BOMBAY HIGH COURTExtract: .......ake it clear that it was the admitted position before the ITO that the assessee and his brother had made cross-gifts to the respective wives of each other and it cannot, therefore, be doubted that there was an indirect transfer of the assets by the assessee to his wife. The Commissioner, applicant, to pay to the assessee the costs of the reference.
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