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1982 (8) TMI 125 - ITAT INDOREExtract: .......al on record to prove that Shri Vimalkumar, the retiring partner, had surrendered his right in the goodwill and assets of the firm in favour of his minor children at the time of retirement u/s 4 (1)(c) of the Act. Thus the authorities below were wrong in estimating the taxable gift in the hands of the assessee. Accordingly, the addition is deleted.
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