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1962 (10) TMI 86 - HC - Income TaxExtract: ....... of ₹ 50,000 in favour of minor Vijayakumar was in fact and in truth a gift by Balakrishnan to his son, and that section 16(3)(a)(iii) of the Act is plainly applicable. The question is answered in the affirmative and against the assessee, who will pay the costs of the department. Counsels fee ₹ 250. Question answered in the affirmative.
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