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1985 (6) TMI 67 - AT - Income TaxExtract: .......its transfer. As such, on the transfer of the said property, there would be long-term capital gains and the same was to be assessed in the hands of the assessee. The finding of the learned AAC to the contrary is not correct. For the reasons discussed above, the assessee shall get relief accordingly. 22. In the result, the appeal is allowed in part.
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