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2006 (7) TMI 167 - HC - Income TaxExtract: .......ricultural land became capital asset. In view of our above discussions we are of the view that the Tribunal was right in taking the view that valuation of land should be taken on the date when it became a capital asset. Accordingly the question of law referred to above is decided in positive, i.e., against the Revenue and in favour of the assessee.
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