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1985 (10) TMI 108 - ITAT AHMEDABAD-CExtract: .......ase. 13. Further, it has been stated by the assessee s counsel and not controverted by the learned departmental representative that the discounted value of the claim to ascertain the market value, has been found less than the amount for which it has been settled. Taking this into account there would be no element of gift. 14. The appeal is allowed.
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