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1985 (11) TMI 8 - HC - Income TaxExtract: .......nd must, therefore, be construed as carrying on business and making profit. The Tribunal, in our opinion, was in error in holding to the contrary. In the result and for the reasons stated above, we answer the question in each of the references in the negative and in favour of the Revenue. In the circumstances, however, we make no order as to costs.
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