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2003 (1) TMI 57 - HC - Income Tax"Whether in law and on facts Circular No. 88, dated August 1, 1969, issued by the Central Board of Direct Taxes but subsequently withdrawn on September 23, 1971, was applicable and the cost of acquisition had to be determined on the basis of the value as determined on the date of conversion of agricultural land into non-agricultural land, i.e., when the land became a capital asset?" - The question referred to this court is, therefore, answered in the affirmative against the Revenue and in favour of the assessee.
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