2000 (12) TMI 84

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....he Revenue, the Income-tax Appellate Tribunal, Delhi Bench-B (in short "the Tribunal"), has referred the following question, under section 256(1) of the Income-tax Act, 1961, for opinion of this court : "Whether, the Tribunal is correct in law in holding that the making of the gifts of Rs. 75,000 was not void in law and hence the income of Rs. 11,250 (Rs. 7,500 as dividend and Rs. 3,750 as inte....