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1980 (9) TMI 17 - HC - Income TaxExtract: .......od in 1968, gains arising to the assessee as a result of the sale transaction cannot be brought to tax as capital gains. In that view of the matter, the referred question has to be answered in the negative, that is, in favour of the assessee and against the Revenue. The Commissioner to pay costs of this Reference to the assessee. Order accordingly.
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