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1992 (1) TMI 51 - GUJARAT HIGH COURTExtract: .......e would be liable for the tax on capital gains in respect of Rs. 9,00,000 received by it in consideration of the assignment of the contract and, therefore, in view of our answers to questions Nos. 1 and 2, question No. 3 is answered in the affirmative and against the assessee. The reference stands disposed of accordingly, with no order as to costs.
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