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1964 (3) TMI 109 - HC - Income TaxExtract: .......In other words, our answer is that, on the facts and in the circumstances of the case, the transfer of the movable properties of the value of ₹ 1,46,500 to Lakshminarayanan under the registered family arrangement dated October 25, 1957, is a taxable gift under the "Act". The assessee to pay the costs. Advocate's fee ₹ 250.
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