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1975 (7) TMI 65 - HC - Income Tax
Extract:
....... deed, as the value of the property exceeded Rs. 100, the transferee cannot be regarded as owner and, for asserting such a right, section 53A of the Transfer of Property Act was not available. Thus, our answer to the question referred to us is in the affirmative. The assessee shall pay the costs of the revenue. Question answered in the affirmative.