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1998 (3) TMI 51 - HC - Income TaxExtract: .......that the subsidy received by the assessee in the instant case by way of reimbursement of revenue expenditure is a revenue receipt and it was rightly taxed as such. Accordingly, we answer the question of law referred to us in the affirmative and against the assessee. But, however, in the circumstances of the case, there will be no order as to costs.
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