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1994 (3) TMI 128 - AT - Income TaxExtract: ....... Commercial and Metal Agencies, Jamnagar. Thus the intention of the assessee was to circumvent the provisions of s. 64(1)(iv) of the Act. We, accordingly, reverse the finding of the CIT(A) and uphold the finding of the ITO that the provisions of s. 64(1)(iv) were applicable to the gifts made by the assessee. 8. In the result, the appeal is allowed.
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