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1988 (1) TMI 1 - HC - Income TaxExtract: .......the cost of the said capital asset to the previous owner, as provided by subclause (ii) of section 55(2) of the Act. For all these reasons, our answers to the two questions referred to this court by the Tribunal are in the negative and in favour of the assessee. In the circumstances of the case, parties shall bear their own costs of this reference.
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