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1988 (2) TMI 100 - AT - Income TaxExtract: .......ve portion of sec. 54 would be that the Investment contemplated under that section is only of such funds as have been secured by way of sale proceeds on transfer of capital asset which led to capital gains. We would, therefore, reject the argument advanced in this behalf by Shri Gupta, confirm the orders of the CIT (A) and dismiss both the appeals.
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