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1987 (2) TMI 121 - AT - Income TaxExtract: .......lth) Trust s case which according to us are not relevant for our purposes. 13. In the result, the appeals of the assessees are allowed and the orders of the CIT are set aside. The orders of the Income-tax Officer are restored and we hold that the Income-tax Officer is correct in bringing to tax the income on the gifted amounts also at normal rates.
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