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1961 (3) TMI 108 - HC - Income TaxExtract: .......As to the first question our answer is that the sum of ₹ 42,000 could not be held as a payment solely as compensation for loss of employment within the meaning of Explanation 2 to section 7(1) of the Act. Our answer to the second question is in the affirmative. The assessee will pay the costs to the Department. Reference answered accordingly.
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