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1951 (5) TMI 6 - HC - Income TaxExtract: ....... are trade profits which are liable to income-tax. They are not exempt from taxation as casual profits. We, therefore, answer the question referred to us in the affirmative and against the assessee. The assessee will pay the costs of the Commissioner of Income-tax on this reference which we fix at ₹ 350. Reference answered in the affirmative.
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