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1981 (9) TMI 202 - ITAT MADRAS-AExtract: .......e Madras High Court as stated in the case of Bharani Pictures at page 250 of the report. For all the reasons stated above, we uphold the order of the Commissioner (Appeals) holding that there is no justification for levy of profit under section 41(2) or capital gains in respect of the impugned transaction. 9. In the result, the appeal is dismissed.
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