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1990 (6) TMI 67 - BOMBAY HIGH COURTExtract: ....... assessee amounted to a gift taxable under the Gift-tax Act, 1958. Accordingly, we answer the first question in the affirmative and in favour of the Revenue. In view of our answer to the first question, the second question referred to us at the instance of the Department does not survive and, accordingly, need not be answered. No order as to costs.
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