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of ITAT partially allowed revenue's appeal. The tribunal upheld that additional evidence was admitted in violation of Rule 46A, but this did not materially impact the case's outcome. The land in question belonged to a partner, not the firm, thus long-term capital gains could not be charged to the firm. The tribunal directed the AO to compute gains only from building structures and plant machinery owned by the firm. The assessment proceedings were found valid, and the cross-objections were dismissed. The ultimate relief granted to the assessee was maintained, with the revenue's appeal being partly allowed on procedural grounds.
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