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2005 (2) TMI 99 - HC - Income Tax
Extract:
....... trade. One can carry on his trade without violating the law. In fact, section 37 presumes that the trade will be carried on lawfully. The question referred to the court is, therefore, answered in the negative, i.e., in favour of the Revenue and against the assessee. The reference stands disposed of accordingly. There shall be no order as to costs.