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1973 (6) TMI 5 - KERALA HIGH COURTAmount received by partner during dissolution of the firm in excess of capital invested - " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is correct in law in holding that the capital gains derived by the assessee on relinquishment of his share in Malabar Fisheries Co. is exempt under section 47(ii) of the Income-tax Act, 1961 ?" - question that has been referred to us must, therefore, be answered in the affirmative, i.e., in favour of the assessee and against the revenue
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