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1973 (8) TMI 9 - HC - Income TaxAmounts received by film-distributor towards deposit and as advance from sub-distributor which is to be returned after adjustment against payment - " Whether, on the facts and in the circumstances of the case, the Tribunal was legally justified in holding the amounts of Rs. 2,400 and Rs. 11,656 as capital receipts of the company ? - sum of Rs. 11,656 which remained outstanding out of money received by the assessee under Clause 3 of the agreement Rs. 2 400 outstanding out of the deposit received under clause 2 was not a trade receipt, but was borrowed money in the nature of a capital receipt. The Tribunal was, therefore, justified in holding the amounts in question as capital receipts of the assessee. The question referred to us is accordingly answered in the affirmative, i.e., in favour of the assessee and against the revenue
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