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1990 (11) TMI 214 - AT - Income TaxExtract: .......te. We are, therefore, convinced that the asset being a land on which factory was under construction is not an asset falling under either item (v) or under the exception to item (vi), i.e., building not used for business purpose so as to be taxed under section 40 of the Finance Act, 1983. The assessment is therefore annulled. The appeal is allowed.
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