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2000 (3) TMI 1086 - AT - Income TaxExtract: .......en earlier allowed as deduction "shall be deemed to be profits and gains of business" under the provision. The fiction was unnecessary if such receipts were to be considered as "turnover" as normally understood. 8. We are therefore of the view that the decision of the CIT(A) is correct. We uphold the same and dismiss the appeal.
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