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1981 (8) TMI 122 - ITAT JAIPURExtract: .......or sale. A single transaction or sale and that too a distress sale cannot establish the intention for sale of the paintings on the part of the assessee. For the reasons we upheld order of the AAC that the assessee is entitled to exemption u/s. 5(1)(xii) in respect of the paintings which are admittedly works of art. 3. All the appeals are dismissed.
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