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2000 (5) TMI 164 - ITAT CALCUTTA-E
Extract:
.......ted to tax in the hands of the assessee. We, therefore, reverse the orders of the lower authorities and direct the Assessing Officer not to tax the assessee in respect of this amount of Rs. 8,00,00,000, which is being considered by us to be of the nature of non-taxable capital receipt. 12. In the result, the appeal filed by the assessee is allowed.