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2001 (9) TMI 34 - HC - Income TaxExtract: .......akes place. As it is the finding of the Tribunal that no transfer had taken place in this year, the occasion for levying tax on any capital gain did not arise. The question referred to us as to whether the Tribunal was right in law in holding that capital gain did not arise in this case is answered in favour of the assessee and against the Revenue.
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