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1980 (10) TMI 126 - ITAT MADRAS-CExtract: ........ counsel for the appellant, the prospect of nationalisation being much less imminent there, the value placed is not also unreasonable. We accept this contention. The value as on 1st Jan., 1954 will be taken at Rs. 10,000 and the gross capital gains assessable will be Rs. 10,000. 5. In the result, the appeal is allowed on the lines indicated above.
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