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2010 (10) TMI 1060 - AT - Income TaxExtract: .......erty though purchased in the name of a member of the HUF, belongs to the HUF. Therefore, the ld. CIT(Appeals) is right in allowing exemption u/s. 54 of the Act to the appellant trust. We uphold the order of the ld. CIT(Appeals). 8. In the result, the appeal of the revenue is dismissed. Pronounced in the open court on this 29th day of October, 2010.
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