Section 4(1)(a) is attracted only in a case where there is a monetary consideration for transfer and that consideration is less than market value of property; in such a case, difference in amount is treated as a deemed gift - [2010] 8 taxmann 242 (KA

Income-tax - Section 4(1)(a) is attracted only in a case where there is a monetary consideration for transfer and that consideration is less than market value of property; in such a case, difference in amount is treated as a deemed gift - [2010] 8 taxmann 242 (KAR.)

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