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1976 (8) TMI 74 - ITAT MADRAS-AExtract: ....... the fact that the assessee claims that the land was taken on lease on monthly basis and there is no evidence contra, we would accept the assessee rsquo s contention that no value should be taken for the land. In this view of the matter we would estimate the value of this property at round sum of Rs. 10,000 only. 6. The appeals are allowed in part.
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