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1998 (7) TMI 83 - HC - Income TaxExtract: .......me-tax under the head Capital gains , under the provisions of section 45. For these reasons, the contention of the assessee that he is entitled to the exemption under section 47(ii) is unsustainable. In view of what is stated supra, we answer the two questions in favour of the Revenue and against the assessee. The reference is answered accordingly.
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