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1997 (11) TMI 59 - MADRAS HIGH COURTExtract: .......ramed by us is concerned, though we answer the question of law in the negative and in favour of the Revenue, the Appellate Tribunal should go into the question afresh whether there is a legal obligation against distribution of profits amongst the members of the assessee. However, in the circumstances of the case, there will be no order as to costs.
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