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1992 (8) TMI 102 - AT - Income TaxExtract: .......to account all surrounding circumstances. For the reasons given above we hold that the GTO had erred in treating the amount in question as taxable gift. In view of this finding it is not necessary to consider the alternative submission of the assessee to the effect that the value of gift would not be more than Rs. 10,000. 13. The appeal is allowed.
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