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2006 (8) TMI 237 - ITAT CUTTACKExtract: .......ategory of trading activity or in the category of adventure in the nature of trade, hence, not taxable. 12. Since we have held that the entire receipts of the club are exempt from tax, the grounds in cross-appeal by the Revenue become infructuous, hence, dismissed. 13. As a result, assessee s appeal is allowed and the Revenue s appeal is dismissed.
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