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1985 (11) TMI 77 - AT - Income TaxExtract: .......ght of this decision, the income world not be taxable at all and it would be unnecessary to decide the other matters regarding the rate of tax or assessability of the life subscription. We, accordingly, allow the assessee s appeal and hold that income of the assessee is not taxable. The department s appeal is, accordingly, dismissed as infructuous.
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