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1993 (4) TMI 114 - AT - Income TaxExtract: .......urt it would not be possible to hold that the transaction is otherwise than for adequate consideration. 9. Seen from any view of the matter, the gift-tax assessments made by the GTO against the appellants are unjustified and are liable to be set aside. Accordingly, the said assessments are cancelled. 10. In the result, both the appeals are allowed.
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