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1955 (9) TMI 74 - HC - Income TaxExtract: .......ers was a sale as contemplated by the Transfer of Property Act. It was not a compulsory transfer of title as a result of any provision of the law. In our opinion, therefore, the Tribunal was in error when it took the view that this case fell within the third proviso to section 12B. We, therefore, answer the question submitted to us in the negative.
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