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1991 (5) TMI 129 - ITAT MADRAS-DExtract: .......nd Agencies (Madras) (P.) Ltd. s case, we have no hesitation in finding that the consideration for the sale is reasonable and adequate. It follows, therefore, that the provisions of section 4(1)(a) would not apply. Hence, we set aside the orders of the authorities below and cancel the gift-tax assessments made. 15. The assessees appeals are allowed
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