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1937 (1) TMI 14 - HC - Income TaxExtract: .......efitting therefrom by means of permissible deductions happens to produce a non-taxable income. It follows from what has been stated above that the answer to the first question must be in the affirmative. The answer to the second question will admittedly follow from the decision on the first and the answer to it therefore is also in the affirmative.
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