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1981 (8) TMI 67 - HC - Income TaxExtract: .......d taxed as such as held by the ITO and the AAC and the Income-tax Tribunal committed an illegality in holding that it was not so liable to be taxed and ordering deletion. We would, therefore, answer the question referred to us in the negative and in favour of the revenue. The reference is answered accordingly. The parties will bear their own costs.
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