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2007 (8) TMI 8 - HC - Income TaxThe amount received was for holding a national convention. It was held that in view of the failure of the Assessee to explain the receipt of Rs.2,00,000/- the provisions of Section 2(24)(iia) of the Act would be attracted and the amount must be treated as income of the Assessee and not as a capital receipt for the assessment year in question.
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