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1973 (9) TMI 21 - GUJARAT HIGH COURTExtract: .......cable to the assessment year 1967-68. We, therefore, answer the question referred to us in the negative and we hold that the Tribunal was not right in holding that the respondent was not liable to pay tax on capital gains made by it under section 114 of the Income-tax Act, 1961. The assessee will pay the costs of this reference to the Commissioner.
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