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2003 (3) TMI 82 - HC - Income Tax"Whether, on the facts and in the circumstances of the case, the Tribunal was right in law and had valid materials in holding that gifts made by the producers to the children of the assessee cannot be construed as consideration received by the assessee for the professional service rendered by him and accordingly, in excluding these gifts from the total income of the assessee?" - We do not find any error in the reasoning of the Tribunal. We uphold the same. - "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law and had material in holding that out of the total consideration of Rs. 1,45,000 towards lease consideration received by the assessee only a sum of Rs. 29,000 is to be assessed for the assessment year 1986-87?" - This question is answered against the assessee and in favour of the Revenue.
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