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1971 (3) TMI 26 - HC - Income TaxEstate Duty Act, 1953 - Property Passing On Death - gifts of a part of the running business or the amounts lying to the credit of the donor in the firm - held that what was gifted was subject to the rights of the firm and the donees took such possession of the gifted property as it was capable of - merely because those properties continued to be used for the purposes of the business of the firm, did not detract from the retention of those properties by the donees to the complete exclusion of the donor
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