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1986 (7) TMI 204 - AT - Income TaxExtract: ....... is no more than a gift or bounty to which the trust had no right to demand and which the firm was not obliged to make in any year, let alone a recurring feature. For all these reasons, we are of the view that the receipts are not taxable and we reverse the finding of the authorities below in this regard. 11. In the result, the appeals are allowed.
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