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1976 (4) TMI 34 - CALCUTTA HIGH COURTExtract: .......atter of the gift by bringing back the same into the partnership in which the donor retained his interest. This right the donor did not have at the time of the making of the gift. Therefore, by following the principles in Chick s case 1959 37 ITR (ED) 89 (PC) as applied by the Supreme Court, the question has to be answered in favour of the revenue.
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