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1984 (10) TMI 89 - AT - Income TaxExtract: .......ssee is entitled to substitute the value as on 1-1-1954 of the undertaking as a whole for computation of capital gains. The ITO will, therefore, after granting an opportunity to the assessee to substitute its value as on 1-1-1954, recompute the capital gains. 27. In the result, the assessee s appeal is allowed and the revenue s appeal is dismissed.
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