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1987 (4) TMI 108 - AT - Income TaxExtract: .......rs, the financial standing of the donor and the educational needs of the donee, we consider that the gift of Rs. 1,25,000 is reasonable and the assessee is entitled to exemption under section 5(1)(xii) of the Gift-tax Act, 1958. The Gift-tax Officer is directed to allow the exemption claimed by the assessee. 7. In the result, the appeal is allowed.
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