2005 (11) TMI 27

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.... Income-tax Act, 1961, and the entire receipt of rupees thirty lakhs in its hands was treated as income. The Assessing Officer was of the view that the amount of rupees thirty lakhs received from Dubai was in violation of the Foreign Contribution (Regulation) Act, 1976. The Commissioner (Appeals), setting aside the order of the Assessing Officer, came to the conclusion that the assessee is entitle....