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1971 (8) TMI 88 - SC - Income TaxWhether the interim payment received by a former holder of an estate under section 50(2) of the Madras Estates (Abolition and Conversion into Ryotwari) Act, 1948 (Madras Act 26 of 1948) whose estate vested in the Government under section 3 of the Act was of capital nature and not liable to tax ? Held that:- Appeals allowed. The order of the High Court is set aside, the writ petitions are allowed and the concerned Income-tax Officers are prohibited from including the interim payments received by the petitioner under section 50(2) of the Act in his assessment.
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