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1981 (9) TMI 156 - ITAT BOMBAY-DExtract: ....... 9/Bom./1980. In each of these cases, the Tribunal has held that the premiums of the type under consideration cannot be treated as gifts made by the deceased during his life time. Respectfully following the aforesaid decisions, we uphold the decisions of the Appellate Controller on this point. 13. In the result, both the appeals are partly allowed.
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