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1950 (5) TMI 33 - PATNA HIGH COURTExtract: .......he inference that the vendors made profit of ₹ 15,882 on the sale of stores. On the second question of law formulated by the Division Bench I agree with Shearer, J., and hold that the amount of ₹ 15,882 which is alleged to be the profits on the sale of the stores is not taxable under the Income-tax Act in the circumstances of this case.
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