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1968 (10) TMI 23 - HC - Income TaxCapital gains - assessee is a Electricity Company taken over by the Government - controversy regarding the amount of compensation which was referred to arbitration and the award was given on July 15, 1960 - Delivery of the undertaking was being given on May 3, 1944 - Since, however section 12B of the Act was not introduced in the year 1944, no capital gains could be charged to tax
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