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1997 (5) TMI 21 - HIMACHAL PRADESH HIGH COURTExtract: .......enses for earning the exempt income where such expenses are mixed up with the remaining expenses. There is no dispute as regards the working out of the net income on the basis of the rule of proportion applied by the ITO. Hence, we answer the question referred to us in the affirmative and hold that the Tribunal was right in law in taking that view.
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