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1968 (9) TMI 45 - HC - Income TaxExtract: .......r was not without consideration in money or money s worth and there was therefore no gift by the assessee to Mohanlal Karnaji and Govindlal Karnaji which would attract the liability to gift-tax under the Act. Our answer to the question referred to us therefore is in the negative. The Commissioner will pay the costs of the reference to the assessee.
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