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1951 (3) TMI 28 - MADRAS HIGH COURT
Extract:
.......as the trading operation of purchase of the standing crop and its resale in the market after harvesting the produce at an advantageous price. For these reasons we hold that the sum of ₹ 7,500 was not exempt from liability to assessment income-tax and that the answer to the question referred to must be in the negative and against the assessee.