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1972 (4) TMI 9 - MADRAS HIGH COURTGift Tax Act, 1958 - conversion of sole proprietary business into partnership by taking proprietor's sons as partners = Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the gift in question was exempt under section 5(1)(xiv) of the Gift-tax Act - Tribunal was not right in holding that the gift was exempt from gift-tax under section 5(1)(xiv)
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