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1978 (10) TMI 78 - AT - Income TaxExtract: .......he meaning of section 2(14)(iii)(a) and, therefore, transactions of land situated in Musiri as long as it is agricultural land cannot be subject to levy of capital gains tax. We would accordingly delete from the assessment as made the sum assessed as capital gains before allowance of deduction at Rs. 79,160. 18. The appeal is, accordingly, allowed.
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