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X purchased a land in the P.Y. 1997- 98 for ` 50,000. This land was sold by him during the P.Y. 2009-10 for ` 8,00,000. The fair market value of this land on 1-4-81 was ` 1,20,000. If
the Cost Inflation Index for the A.Y. 2010-11 is 632, his capital gain forthe A.Y. 2010-11 will be (2 marks)
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