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1976 (4) TMI 112 - AT - Income TaxExtract: .......be seen that the vesting of the property is not postponed beyond the life time of the persons in existence at the time of transfer. The rule against perpetuities is not, therefore, violated. Hence the trust created is valid and proper. This point is answered in affirmative and in favour of the assessee. 14. In the result, the appeals are dismissed.
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