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1970 (10) TMI 25 - HC - Income TaxWhether on the true interpretation of the partnership deed, the Tribunal was right in holding that the assessee did not carry on any business activities and that it was not liable to be taxed under the Indian Income-tax Act,1922 - Tribunal was right in observing that the association formed by the ice manufacturers in the present case was not a partnership concern, as it was not carrying on any business activity within the meaning of section 4 of the Indian Partnership Act, and as such it was not liable to be taxed under the Indian Income-tax Act, 1922
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