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1972 (4) TMI 16 - HC - Income TaxGift Tax - Gift-tax Officer took the view that by converting his individual business into a partnership business and by admitting his son as a partner, Pukharaj had made a gift of not only the said sum of Rs. 61,311 but also the half share in the goodwill of the business - father's business belonged to the joint family consisting of himself and his son - therefore, there was no question of gift, when the joint family business was converted into a partnership one
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