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1971 (8) TMI 48 - KERALA HIGH COURTGift Tax Act, 1958 - proprietorship was converted into partnership with the sons contributing the amounts received as gifts - Whether there was a gift within the meaning of section 2(xxiv)(b) and section 2(xii) - Whether, the transaction in question was exempt under section 5(1)(xiv) on ground that it was in course of business
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