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1940 (9) TMI 28 - HC - Income TaxExtract: .......000. The ₹ 42,000 is part of the profit which was made out of the transaction, and therefore no deduction can be allowed. For the reasons indicated we answer the first question referred in the negative, and the second question in the affirmative. The petitioner must pay the costs of this reference, ₹ 250. Reference answered accordingly.
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