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1997 (2) TMI 19 - HC - Income TaxExtract: .......ent case, on the facts, the Tribunal came to the conclusion that there is no difference between the fair market value and the stated consideration. Therefore, gift-tax under section 4(1)(a) cannot be levied in the present case. In that view of the matter, we answer the question referred to us in the affirmative and against the Department. No costs.
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