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Whether in the facts and circumstances of the case, the tribunal was correct in law in holding that the provisions of Section 45(2) and 49(1) of the Income-tax Act are not applicable in respect to the property received by assessee on partial partition of Hindu Undivided Family and thereby deleting the long term capital gain of RS.6,78,41,691/-?

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Section 45 of the Income-tax Act, 1961—Capital gain—CIT vs. C. RAMAIAH REDDY.[2020] 26 ITCD Online 145 (KARN)