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1981 (7) TMI 101 - ITAT BOMBAY-CExtract: .......has to be determined after deducting from the income of the AOP the tax payable by it. The Deptl. appeal will be partly allowed. 12. In the cross objection, the assessee has mainly advocated for the acceptance of the alternative contention which we have, in the above paragraph, found to be correct. So the cross objection would stand partly allowed.
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