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1969 (2) TMI 44 - DELHI HIGH COURTExtract: .......essee cannot, therefore, form part of its assessable income and the sum of Rs. 11,000 received by the assessee as subscription from its members is not taxable. The answer to the question referred to us, therefore, is in the affirmative. In the circumstances, the revenue shall pay the costs of the respondent. Counsel s fee Rs. 100. KAPUR J.-I agree.
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