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1990 (6) TMI 69 - HC - Income TaxExtract: .......fore, agree with the reasoning of the Tribunal that the transfer of these shares is covered by the definition of gift within the meaning of section 2(xii) of the Gift-tax Act, 1958. Accordingly, we answer the question referred to us in the affirmative and in favour of the Revenue. There will be no order as to costs in the circumstances of the case.
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