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1997 (7) TMI 207 - ITAT NAGPUR
Extract:
.......horities were justified in holding that the contribution of the assets to the firm M/s. Bajaj Trading Co. was liable to capital gains tax. 30. On merits, therefore, the case is decided against the assessee. 31. Since on the first issue of reopening of assessment we have quashed the assessment order, in effect the appeal shall be treated as allowed.