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1988 (12) TMI 109 - BOMBAY HIGH COURTExtract: .......14. Their shares do not have to be some stated proportion of the profits. The only argument advanced on behalf of the Revenue must, on the strength of this court s judgment in Raghunandan Nanu Kothare s case, AIR 1927 Bom 187, be repelled. The question, accordingly, is answered in the affirmative and in favour of the assessee. No order as to costs.
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