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1997 (10) TMI 6 - SC - Income TaxCase of the assessee is that even if it has sold the rubber plantation, the profits derived from the sale of plantation should not be taken into consideration for the purpose of imposition of tax u/s 104 - The company being an investment company did not have any trading activity - The profit attributable to sale of investment may be assessable as capital gains. But there is no reason why such gains made by investment companies are not available for distribution as dividend to its shareholders
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