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2000 (12) TMI 73 - HC - Income TaxExtract: .......s not capital gains and was not chargeable to tax under section 45. As the principles laid down by the apex court are squarely applicable to the case on hand, we also hold that the Tribunal was not correct in calling upon the assessee to pay tax on capital gains and, therefore, we answer the issues in favour of the assessee and against the Revenue.
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