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1984 (10) TMI 10 - HC - Income TaxExtract: ....... this view, we have to agree with the view taken by the Tribunal and hold that the capital gain arising out of the sale of the above land cannot be exempted under section 2(14)(iii) of the Act. The questions are, therefore, answered in the affirmative and against the assessee. The Revenue will get the costs from the assessee. Counsel s fee Rs. 500.
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