1978 (8) TMI 36

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.... consideration is : " Whether the Tribunal was right in holding that no gift-tax is leviable in the present case ? " The assessee is a HUF and the relevant assessment year is 1971-72. The assessee-HUF had 78 acres of agricultural land and the same was assessed as part of its wealth for the assessment year 1970-71. During the year in question Ram Kishan, the karta, executed six different docu....