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1997 (5) TMI 81 - AT - Income TaxExtract: ........ Having regard to material available on record, we hold that the assessee sold agricultural land and invested sale proceeds thereof in acquiring agricultural land in terms of s. 54B and no capital gain was taxable in his hand. The AO is directed to revise the assessment as per above directions. 6. In the result, assessee rsquo s appeal is allowed.
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