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1991 (1) TMI 213 - ITAT HYDERABAD-BExtract: ....... gift for asst. yr. 1987-88, for which there is no return, is highly irregular. Considering all the facts and the circumstances of the case, we are, therefore, of the view that the impugned gift is assessable for asst. yr. 1986-87. We, therefore, accept the contention of the learned counsel. 8. In the result, the assessee rsquo s appeal is allowed.
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