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1988 (12) TMI 40 - HC - Income TaxExtract: .......ransferred by the assessee otherwise than for adequate consideration ? Counsel are agreed that the issue is covered by the judgment of this court in the assessee s own case in K. M. Sheth v. CIT 1977 107 ITR 45, and that the question must be answered in the affirmative and in favour of the Revenue. The question is so answered. No order as to costs.
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