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1985 (8) TMI 109 - ITAT COCHINExtract: ......., it is only after computing the capital gains under section 48 and after allowing the exemption under section 54 the deduction under section 80T can be allowed. The computation of capital gains made by the ITO is perfectly in order. The appeal filed by the assessee thus fails and is accordingly dismissed. 7. In the result, the appeal is dismissed.
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