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1987 (2) TMI 8 - HC - Income TaxExtract: ....... princes without consideration. Under those circumstances, we hold that there is no gift as defined under section 2(xii) of the Act and section 4(1)(a) or 4(1)(c) does not apply to the facts in this case. Accordingly, we answer the reference against the Revenue and in favour of the assessee. In the circumstances, there will be no order as to costs.
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