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2008 (9) TMI 593 - BOMBAY HIGH COURTCapital gain - "Whether Tribunal was right in law in holding that the assessee is entitled to deduction u/s 54E in respect of the capital gain arising on the transfer of a capital asset on which depreciation has been allowed and which is deemed as short-term capital gain u/s 50 of the Income-tax Act, 1961 - Held that: the issue is squarely covered against the revenue and in favour of the assessee by judgment of this Court in Commissioner of Income Tax Vs. Ace Builders P.Ltd.[2005 -TMI - 9448 - BOMBAY High Court] - Decided in favour of assessee.
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