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1965 (2) TMI 114 - HC - Income TaxExtract: ....... the reasons stated, in our opinion, the Tribunal was right in holding that the said amount of ₹ 7 lakhs was not liable to tax under section 7 of the Indian Income-tax Act, 1922. In the result, our answer to the question referred to us is in the negative. The Commissioner shall pay the costs of the assessee. Question answered in the negative.
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