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1981 (2) TMI 7 - MADRAS HIGH COURT
Extract:
.......s reference is Whether, on the facts and in the circumstances of the case, the sum of Rs. 1,14,000 is liable to be taxed as capital gains ? Having regard to the considerations we have stated above, our answer to the question is in the affirmative and in favour of the Revenue. The assessee will pay the costs of the Department. Counsel s fee Rs. 500.