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2003 (2) TMI 52 - HC - Income Tax"1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified and correct in law in upholding the order of the Commissioner of Income-tax (Appeals) whereby addition of the embezzled money to the income of the assessee under the head 'Income from other sources' was deleted? - 2. Whether, on the facts and in the circumstances of the case, the embezzled money in the hands of the assessee and utilised by the assessee is an income within the meaning of section 2(24) read with section 69A of the Income-tax Act, 1961?" – The amount received by the assessee in the assessment year in question being utilised by him in the construction of the house property shall be the "income" within the meaning of section 2(24) of the Income-tax Act, 1961, and is liable to be taxed.
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