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2005 (4) TMI 256 - AT - Income TaxExtract: ....... receipts but the income arising out of these receipts. Such income can only be computed by deducting the cost from the gross receipts of the insurance claim. The AO is directed to recompute the deduction in the light of the observation of the Hon ble jurisdictional High Court. 17. This appeal of the Revenue is disposed of in the above said manner.
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