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2004 (7) TMI 299 - AT - Income Tax
Extract:
.......f share application monies. This judgment of the Supreme Court does not, therefore, assist the revenue. 28. For the above reasons, we hold that the amount of Rs. 1,65,29,255 cannot be assessed as casual and non-recurring receipt under section 10(3) of the Act. Ground Nos. 1, 2 and 3 are accordingly allowed. 29. In the result, the appeal is allowed.