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1984 (5) TMI 125 - AT - Income TaxExtract: .......ted by another residential unit and whatever capital gains enures from the sale of the residential house is reinvested in the purchase of another residential house. In the circumstances, we accept the claim of the assessee and direct the ITO to grant the relief under section 54 and recompute the capital gains exigible to tax. The appeal is allowed.
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