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2008 (1) TMI 356 - HC - Income TaxTransfer of asset (residential house) – capital gains - a plot of land having a boundary wall and a garage-cum-room, can not be treated as “residential house” – section 53 does not exempt merely a building nor does it exempt merely the land appurtenant thereto – claim for exemption u/s 53 is not accepted, as asset did not fulfill the character of a residential house
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