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1980 (4) TMI 87 - HC - Income TaxExtract: .......lusion that there was no question of any gift involved when the assessee charged half a per cent. interest on the loans advanced to Karumuttu Thiagarajan Chettiar, his wife and sons. All the questions referred are, therefore, answered in the affirmative and in favour of the assessee. The assessee is entitled to costs. Counsel s fee Rs. 500 one set.
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