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1988 (12) TMI 41 - CALCUTTA HIGH COURTExtract: .......to an obligation. The mere collection of income where obligation is attached to the source of such income cannot be taxed as it can never be income, far less a real income. For the reasons aforesaid, we answer the question in this reference in the affirmative and in favour of the assessee. There will be no order as to costs. J. N. HORE J. -I agree.
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