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2009 (1) TMI 21 - HC - Income TaxTransfer of business by assessee - Government of India informed the assessee to get the valuation of the asset done and transfer them as per the book value - transfer took place at the book value which was lesser than the market price of the said asset – whether such loss is a terminal loss or a capital loss - Tribunal was justified in holding that the loss has to be allowed as a terminal loss u/s 32(1) (iii) because the consideration was relatable to the value of the asset transferred
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