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2005 (11) TMI 387 - AT - Income TaxExtract: .......icultural land was an asset within the meaning of section 2(14)(iii ) of the I.T. Act and was liable to be taxed on the capital gain arising out of the sale proceeds of that land, in that view of the matter we set aside the order of the learned CIT(A) and restore that of the Assessing Officer. 12. In the result, appeal of the department is allowed.
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