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1977 (7) TMI 10 - HC - Wealth-taxExtract: .......early of the view that the Tribunal was right in holding that the 400 shares of Colour Chem Ltd. transferred to the assessee s wife were exempt under s. 5(1)(xx) read with s. 4(1)(a)(i) of the W.T. Act, 1957. The question is accordingly answered in the negative, in favour of the assessee. Revenue will pay the costs of the reference to the assessee.
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