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1975 (10) TMI 5 - HC - Income TaxExtract: .......ellate authorities were justified in allowing the assessee to take the said new plea, for those sale proceeds were not revenue but capital receipts. In this view of the matter, we return our answer in the affirmative and against the revenue. As no one has appeared for the assessee we do not propose to make any order as to costs. HAZRA J.---I agree.
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