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1966 (10) TMI 47 - SC - Income TaxWhether the receipt in question was a revenue receipt from a venture in the nature of trade? Held that:- Under section 4(3)(vii) receipts which are of a casual and non-recurring nature are not liable to be included in the computation of the total income of the assessee ; but the rule in express terms does not apply to capital gains, receipts arising from business or the exercise of a profession or vocation and receipts by way of addition to the remuneration of an employee. On the finding recorded by the Tribunal, the receipt arose from the business of the assessees, and is not exempt under section 4(3)(vii). Appeal dismissed
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