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1967 (8) TMI 3 - HC - Income TaxInsurance business - excess premium was entered in the books of the assessee-company in the premium deposit account - assessee-company transferred the sum of Rs. 33,905 to its revenue account - ITO was not justified in treating the said amount as gross external incomings of the year under r. 2(a) of the Rules for the computation of the profits and gains of insurance business
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