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2008 (3) TMI 409 - AT - Income TaxExtract: ....... to be upheld as per the sanction of the Supreme Court and we, accordingly, uphold the claim that the amount received by the assessee on transfer of various shares in the course of the family arrangement would not result in any capital gains within the meaning of the IT Act as it does not amount to transfer. 6. In the result, the appeal is allowed.
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