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1978 (7) TMI 36 - HC - Income TaxExtract: .......ved by the assessee during the two relevant financial years are income within the meaning of the I.T. Act and they cannot be regarded as capital receipts in the hands of the assessee is correct. Accordingly, our answer to the question referred to us is in the affirmative and in favour of the revenue. The assessee shall pay the costs of the revenue.
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