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2000 (12) TMI 239 - ITAT MADRAS-AExtract: .......cumstances discussed above, we uphold the finding of the CIT(A) that the assessee being a partner in the firm, is not entitled to the deduction under section 48(2) of the Income-tax Act on the share of capital gains, allocated to him on the basis of the computation in the assessment of the firm. This appeal by the assessee is, therefore, dismissed.
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