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1983 (7) TMI 11 - HC - Income TaxExtract: .......to agree with the view taken by the Tribunal that the settlement deed was not supported by consideration in money or moneys worth and, therefore, it should be taken as a gift. The question is, therefore, answered in the affirmative and against the accountable person.The Revenue will have its costs from the accountable person. Counsel s fee Rs. 500.
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