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1980 (5) TMI 4 - HC - Income TaxExtract: .......l Insurance s case. We do not agree with such contention. We would, therefore, answer this question in favour of the assessee holding that the Department was not justified in taxing the sum of Rs. 42,53,148 as revenue profits in the hands of the assessee-company for the assessment year 1959-60. There shall be no order as to costs of this reference.
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