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1996 (2) TMI 69 - HC - Income TaxExtract: .......that there is no error in deciding that the earnest money received by the assessee for the sale of the property in question and forfeited did not become the business income of the assessee. In view of the foregoing reasons, we answer both the questions referred to us in the affirmative and against the Department. There will be no order as to costs.
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