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2001 (2) TMI 265 - ITAT BANGALOREExtract: .......We also uphold the finding of the Commissioner (Appeals) to the effect that no gift-tax is chargeable on the bonus shares. In the result, we direct the Assessing Officer to delete the levy of GT on the assessee-company for the assessment year 1997-98. 15. Accordingly, the appeal of the assessee is allowed and the appeal by the Revenue is dismissed.
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