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1985 (4) TMI 63 - HC - Income TaxExtract: .......uestion referred to us in this referred case in the affirmative, i.e., we hold that the payment of Rs. 50,000 by the assessee to his wife towards the liquidation of Meher debt due by him, is for adequate consideration within the meaning of s. 64(1)(iv) of the I.T. Act, 1961. Our answer is in favour of the assessee and against the Revenue. No costs.
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