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1979 (1) TMI 89 - HC - Income TaxExtract: .......o be held that the authorities under the Act and the Tribunal were right in holding that there had been a transfer of the amount in question without consideration which attracted s. 2(xii) of the Act which defined the expression gift for purposes of the Act. The question is, therefore, answered in the affirmative and against the assessee. No costs.
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