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1998 (1) TMI 45 - HC - Income Tax

  1. 1999 (2) TMI 55 - HC
The High Court of Delhi ruled that cash compensatory support declared as a trading receipt is taxable income under the Income-tax Act, 1961. The decision was based on an amendment giving retrospective effect from April 1, 1967. The judgment favored the Revenue and went against the assessee.

 

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