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1993 (3) TMI 132 - ITAT BOMBAY-AExtract: .......hese circumstances, the alternate claim of the assessee that the provisions of section 48(3) of the Act, cannot be invoked to scale down the initial deduction under section 48(2) of the Act, if there is an overall long-term capital gain under the head capital gains need not be discussed and adjudicated upon. 10. In the result, the appeal is allowed
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