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1986 (7) TMI 55 - HC - Income TaxExtract: ....... meaning of section 2(47) of the Act and thus is capital gains under section 45(1) of the Act. In view of this, the reference made to this court by the Appellate Tribunal on the aforesaid question is answered in the affirmative, in favour of the Revenue and against the assessee. In the circumstances of the case, costs shall be borne by the parties.
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