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1938 (4) TMI 4 - HC - Income TaxExtract: .......377; 1,04,000 is not liable to income-tax as income accruing and arising in British India within the meaning of Section 4(1) of the Act. (b) Even if the same assessee be regarded as having received the sum of ₹ 1,04,000, this receipt is exempt under Section 4(3) (vii) of the Act. In view of our answer to question 1, question 2 does not arise.
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