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[Cites 0, Cited by 8] [Section 4(1)] [Section 4] [Entire Act]

Union of India - Subsection

Section 4(1)(b) in The Gift-Tax Act, 1958

(b)where property is transferred for a consideration which, having regard to the circumstances of the case, has not passed or is not intended to pass either in full or in part from the transferee to the transferor, the amount of the consideration which has not passed or is not intended to pass shall be deemed to be a gift made by the transferor;