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2006 (11) TMI 235 - AT - Income TaxExtract: ....... of the above discussion, it is held that the proviso to s. 112(1) of the Act does not apply to the case of assessee and consequently, the rate of tax on long term capital gain computed under the first proviso to s. 48 would be 20 per cent. The order of the learned CIT(A) is, therefore, upheld. 19. In the result, assessee s appeal stands dismissed.
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