1966 (9) TMI 10

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....tion referred is: "Whether the surplus of Rs. 37,385 arising from the sale of plant and machinery of an ice factory is chargeable to income-tax under section 10(2)(vii) of the Income-tax Act as deemed income of the assessee ? " The finding of fact given by the Tribunal is that the business was not carried on during the previous year and this finding of fact has been accepted by the revenue. ....