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1980 (7) TMI 94 - KARNATAKA HIGH COURTExtract: .......ital asset and accordingly cannot be treated as a revenue receipt liable to tax under the I.T. Act, 1961. Accordingly, the question is answered in the negative, i.e., that the sum of Rs. 17,482 received by the assessee from the forest department was not an income taxable under the provisions of the I.T. Act, 1961. Parties will bear their own costs.
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