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2007 (1) TMI 164 - HC - Income TaxAO contend that when a super structure is raised on plot, it becomes a different asset & the life of this asset can’t be linked with the acquisition of plot - Tribunal has taken a balanced view by bifurcating the profit or gain arising out of the sale of incomplete house in June, 1982, into long-term capital gain by keeping in view the date of acquisition of the plot and short-term capital gain by keeping in view the construction of a super-structure made on the plot – revenue appeal dismissed
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