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1996 (2) TMI 16 - SC - Income Tax
Assessee's share of profit that may ultimately be determined in the assessment of the firm as his share of profit from the firm is liable to be included in his total income - Amount received by the assessee as his share of the value of the goodwill or any part thereof was not liable to tax as capital gain - amount over and above Rs. 1,00,000 is also his income in law. It has accrued to him. It is immaterial that he chose not to recover it