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1977 (9) TMI 9 - CALCUTTA HIGH COURT
Extract:
.......e lands in 1949. In these circumstances, at no point of time those agricultural lands became capital assets in the hands of the assessee and, accordingly, the contentions of Mr. Sengupta must fail. In the premises, we answer the question in the affirmative and in favour of the assessee. There will be no order as to costs. C. K. BANERJI J.--I agree.