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1988 (9) TMI 106 - AT - Income TaxExtract: .......on is supported by the decision of the Bombay High Court in the case of Manubhai A. Seth v. N.D. Nirgudkar, Second ITO 1981 128 ITR 87. Hence, in any view of the matter, the tax imposed on the capital gains arising from the transfer of the lands in Arapalayam village has to be deleted. We direct accordingly. 7. In the result, the appeal is allowed.
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