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1985 (4) TMI 107 - ITAT COCHINExtract: ....... illusory or totally inadequate. The incoming partner, who had experience in the business earlier, had come in as an active partner. Under the circumstances, following the decision of the Kerala High Court, referred to above, we hold that there was no gift in the present case which will attract gift-tax. 8. In the result, the appeals are dismissed.
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