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1983 (12) TMI 76 - AT - Income TaxExtract: ....... prove that gift has resulted in advantage. Even gifts made to preserve capital assets of business would be exempt under this section. We, therefore, do not find any infirmity with the order of the Commissioner of Gift-tax (Appeals). 9. In the result, the appeal filed by the revenue is dismissed and cross-objection filed by the assessee is allowed.
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