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1995 (9) TMI 40 - HC - Income TaxExtract: .......justified in not remitting the matter back to the file of the Income-tax Officer to examine whether the transfer was a device or ruse to convert personal asset into money and evade tax on capital gains in the light of the observations of the Supreme Court in Sunil Siddharthbhai v. CIT 1985 156 ITR 509 ? The income-tax case is, accordingly, allowed.
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