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1967 (3) TMI 3 - SC - Income TaxWhether entire sums spent in carrying out the obligations subject to which lands were sold by the assessee were allowable in computing the assessee's profits from the land business - Whether the assessee was liable to be taxed only on the actual realisation of sales in cash subject to the allowances admissible under the IT Act - both the questions referred to the High Court have been rightly answered by it in favour of the assessee - revenue's appeal dismissed
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