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1986 (2) TMI 103 - ITAT COCHINExtract: .......ard to the quantification of the gift. We find that as per the Notification No. S.O.301, dated 20-7-1977 issued under rule 10(4) of the Gift-tax Rules, 1958 by the CBDT, interest at 12 per cent on the capital should be allowed in computing the gift. Thus, interest at 12 per cent on the capital is allowable. 10. In the result, the appeal is allowed.
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