1993 (8) TMI 6

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....56(1) of the Income-tax Act, 1961, the Income-tax Appellate Tribunal, at the instance of the assessee, has referred the following two questions of law to this court for the opinion : " (1) Whether, on the facts and in the circumstances of the case, the gifts of movable properties made to persons who were relations of G. N. Agrawal, but not members of the Hindu undivided family were valid in law ?....