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1996 (8) TMI 39 - HC - Income TaxExtract: .......sons, we are coming to the conclusion that the Tribunal was not correct in holding that there is no transfer in this case, and even if there is transfer, the transfer is for adequate consideration. Accordingly, we answer the questions referred to us in the negative and in favour of the Department, with costs of Rs. 1,000 (rupees one thousand only).
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