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1939 (11) TMI 18 - HIGH COURT OF BOMBAYExtract: .......preciated in value. But these things can in no sense be described as income ; and it is only income that can be taxed under the Indian Income Tax Act. 13. For these reasons their Lordships are of opinion, and will humbly advise His Majesty, that this appeal should be dismissed. The respondents' costs of the appeal must be paid by the appellant.
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