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1960 (11) TMI 22 - SUPREME COURT
Whether the sum of ₹ 5 lakhs has been properly brought to tax in the hands of the assessee for the assessment year 1951-52 ?
Held that:- The sum of ₹ 5,00,000 was not paid to the assessee in token of appreciation for the services rendered as a Dewan of Bhavnagar State but as a personal gift for the personal qualities of the assessee and as a token of personal esteem.
The appeal is, therefore, allowed and the order of the High Court set aside and the reference is answered against the Commissioner of Income-tax.