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1971 (5) TMI 25 - CALCUTTA HIGH COURTWhether, on the facts and in the circumstances of the case, the surplus amounting to Rs. 1,01,854 arising from the sale of the fireclay rights was taxable under the Indian Income-tax Act, 1922 – purchase and sale of fireclay rights were purchase and sale of the assessee and were incidental to the purchase and sale of coal mines. Both the coal mine and the fireclay rights were purchased for the purpose of resale – therefore, Our answer to the question referred to us, therefore, is in the affirmative and in favour of the department
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