1980 (8) TMI 111

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....l gains of Rs. 38,415. 2. The assessee owned a property at 3B, Nalin Sarkar Street, Calcutta. The property was sold for a sum of Rs. 1,40,000. Pursuant to an earlier order of the AAC setting aside the assessment the ITO made a fresh assessment on 29th March, 1979. He estimated the market value of the said property at Rs. 2 lakhs and by applying s. 52(2) determined the capital gains at Rs. 38,415....