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1983 (7) TMI 112 - AT - Income TaxExtract: .......of acquisition of the right to receive share we respectfully following the decision of Hon rsquo ble Supreme Court, hold that the right to receive share is not an asset within the meaning of s. 45 of the IT Act, 1961 and, therefore, on transfer of such right no capital gain can arise and as such cannot be brought to tax. 2. The appeal is dismissed.
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