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1989 (3) TMI 19 - CALCUTTA HIGH COURTExtract: .......will fail and a person who has not been given these shares as an individual cannot claim these shares as his own. If the gift fails, whatever is transferred, will revert back to the donor. The question is, therefore, answered in the affirmative and in favour of the assessee. There will be no order as to costs. BHAGABATI PRASAD BANERJEE J. -I agree.
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