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1992 (3) TMI 12 - CALCUTTA HIGH COURTExtract: .......ial. Where the transfer is in the nature of a lease for perpetuity, section 63 does not operate. A transfer in the nature of lease for valuable consideration as is the case before us stands clear of section 63. We, therefore, answer the question in the affirmative and against the assessee. There will be no order as to costs. K. M. YUSUF J.-I agree.
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