https://www.taxtmi.com/caselaws?id=68959 The Tribunal allowed the appeal, canceling the assessment for gift-tax. It found that the assessed fair market value of Rs. 5,23,000 did not align with the actual market conditions and practicality of the sale transaction, concluding that the sale of buses was not for inadequate consideration. en-us Tue, 19 Oct 1982 00:00:00 +0530 Mon, 04 Apr 2011 12:09:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68959 The Tribunal allowed the appeal, canceling the assessment for gift-tax. It found that the assessed fair market value of Rs. 5,23,000 did not align with the actual market conditions and practicality of the sale transaction, concluding that the sale of buses was not for inadequate consideration. Case-Laws Income Tax Tue, 19 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68959