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1975 (12) TMI 6 - HC - Income TaxExtract: .......tute income . By parity of reasoning, the same varieties of fees, received from other members also, cannot be income . They go towards the common fund of the club. For the foregoing reasons, we answer the question in the negative, i.e., against the Revenue and in favour of the assessee. The Revenue shall pay costs of this reference to the assessee.
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