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1985 (10) TMI 110 - ITAT ALLAHABAD-AExtract: .......en made possible only by adopting a device, which is nothing else but to avoid gift under the Act. We, therefore, respectfully following the principle laid down in the case of McDowell and Co. Ltd. also hold that the assessee is not entitled to exemption under section 5(1)(viii) on the facts stated above. 16. In the result, the appeal is dismissed.
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