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1983 (9) TMI 57 - HC - Income TaxExtract: .......r, the material point is that the assessee purchased the land with the intention of selling it at a profit by dividing it into small portions and not to use it for himself. For the reasons given above, we answer the questions referred to us in the affirmative, in favour of the department and against the assessee. There will be no order as to costs.
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