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1982 (7) TMI 209 - AT - Income TaxExtract: ....... the transfer of the rights by the assessee-individual must be regarded as a release of the undivided coparcenary interest which does not amount to a transfer liable to gift-tax though he purported to transfer his separate interest. In the circumstances, we accept the appeal of the assessee a d annual the gift-tax assessment. The appeal is allowed.
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