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1993 (4) TMI 96 - AT - Income TaxExtract: .......alid and complete gift of Rs.1 lac in favour of the assessee and the same was not a colourable transaction or a dubious device or a facade of gift, as observed by the A.C. in the impugned order. The sum of Rs. 1 lac, therefore, deserves to be deleted and we direct accordingly. The impugned order is vacated and the appeal of the assessee is allowed.
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