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1976 (11) TMI 43 - HC - Income TaxExtract: .......sition of these shares by the assessee was Rs. 60 per share. Under these circumstances, we are clearly of the opinion that the Tribunal was in error in holding that section 4(1)(a) of the Act did not apply to the case on hand. Therefore, we answer the second question also in the negative and against the assessee. There will be no order as to costs.
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