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1985 (7) TMI 187 - ITAT MADRAS-DExtract: .......ave pointed out earlier there is not only consideration but also adequate consideration. 10. In this view of the matter, we set aside the orders of the AAC and the GTO and direct that the transaction in this case was not liable to gift-tax as there was not only consideration but also adequate consideration. 11. In the result, the appeal is allowed.
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