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1967 (4) TMI 6 - SC - Income TaxAcquisition of the undertaking of the company - company was paid Rs. 15,50,000 as compensation for loss of its undertaking, assets and documents - tribunal was justified in bringing the amount as taxable income of the company in the previous year - profits received by the company the State of Mysore is, by virtue of s. 26(2) of the IT Act, liable to be taxed.
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