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1955 (3) TMI 44 - HC - Income TaxExtract: ....... he had received was a commuted amount representing the reduction in his remuneration and is a revenue receipt. It was, therefore, rightly treated as income and was liable to be taxed. 7. The question is accordingly answered in the affirmative, and the reference is rejected with costs. Hearing fee ₹ 100. Reference answered in the affirmative.
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