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1994 (12) TMI 50 - HC - Income TaxExtract: .......vied on the balance amount of Rs. 1,17,500. In this view of the matter, we hold that the Tribunal was not right in holding that the assessee was liable to capital gains tax on Rs. 2,55,000. In our opinion, the assessee was liable for capital gains tax on Rs. 1,17,500. Both the questions are answered accordingly. There shall be no order as to costs.
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