1990 (1) TMI 68

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....his case pertains to the valuation of a plot of land which was gifted by the respondent to his grandson. The Gift-tax Officer did not accept the contention of the assessee, namely, that the value should be Rs. 15,136, which was the consideration which the assessee had paid for it on January 30, 1976. The contention of the assessee was that, according to the terms of the lease deed, for a period of....