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1999 (3) TMI 24 - MADRAS HIGH COURTExtract: .......a charitable trust, was entitled to exemption tax on the capital gains arising on the sale of the shares, as the provisions of section 11(1A) of the Act were fully satisfied. Following the aforesaid decision of the Gujarat High Court and for the reasons stated therein, we answer the second question in favour of the assessee and against the Revenue.
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