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1984 (2) TMI 69 - HC - Income TaxExtract: .......e brings such surplus deposit remaining in its hands to its profit and loss account. Therefore, it can be taxed as a trade receipt in the hands of the assessee. The question is, therefore, answered in the negative, that is to say, in favour of the Department and against the assessee. The respondents will pay to the applicant costs of the reference.
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