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1960 (7) TMI 6 - SUPREME COURTWhether the sum of ₹ 32,500 received by the assessee in the circumstances set out in the trust deed later executed by him on August 6, 1945, was his professional income taxable in his hands or was it money received by him on behalf of a trust and not in his capacity as an individual ? Held that:- We allow this appeal and set aside the judgment and order of the High Court. The answer to the question is in favour of the appellant, namely, that the sum of ₹ 32,500 received by the assessee was his professional income taxable in his hands.
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