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2017 (2) TMI 388 - BOMBAY HIGH COURTRepayment of loan - whether was a capital receipt and not subject to tax as deemed income under Section 41? - Held that:- The benefit on account of premature payment of deferred sales tax being on Capital Account and cannot be considered as income under Section 41(1) of the Act stands concluded in favour of the respondent – assessee. See Commissioner of Income Tax Vs. Sulzer India Ltd. and Others [2014 (12) TMI 267 - BOMBAY HIGH COURT].
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