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2010 (7) TMI 295 - HC - Income TaxTransfer of property to a wife - but did not pay gift tax - on the ground that this gift had been made by way of family arrangement - reason given by the assessee was that he had divorced his first wife from whom he had one son - To remove the insecurity of his second wife, he had gifted the house to his second wife since he did not plan to have any child from the second marriage - Held that: - this is a bonafide family arrangement - appeal is accordingly dismissed
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