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2011 (4) TMI 100 - AT - Income TaxCapital asset - sold exchanged or relinquished - permission to a builder to permit construction on the land of society - Held that: the assessee was neither holding any capital asset nor the same has been sold, exchange or relinquish of assets. - the order of the CIT(A) in directing the AO not to charge capital gains tax on the compensation received by the assessee even on protective basis upheld.
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