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1986 (10) TMI 52 - ITAT AHMEDABAD-BExtract: .......the firm by a partner, of course, the condition inter alia is that there must by a sale or the asset must be bold . We have already pointed out earlier that on facts of the case, ingredients of sale are present in the transaction and therefore, in light of the above discussion we uphold the decision of the authorities below and dismiss this appeal.
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