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2007 (2) TMI 668 - HC - Income TaxExtract: .......the present petition. The Assessing Officer at the relevant time, while framing assessment under section 143(3) of the Act had treated the receipt to be capital receipt. Merely because there was a second opinion possible on the same facts, in those circumstances, the powers under section 263 could be exercised. Accordingly, we dismiss the petition.
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