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2006 (12) TMI 108 - HC - Income TaxExtract: .......ly 4, 2006. Accordingly, for the reasons stated therein, though it is held that capital gain arising out of acquisition of land in the present case would be exigible to capital gain tax under the Act, however, for the purpose of calculation of capital gain tax, the cost has to be determined as on March 1, 1970. Reference is disposed of accordingly.
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