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1996 (1) TMI 70 - HC - Income TaxExtract: .......er the said sub-section in respect of such income in computing the total income of any partner of the firm or any member of the association or body. Now, after this amendment, no deduction in the income of the partners out of the interest is permissible. Therefore, this reference has to be answered in favour of the Revenue and against the assessee.
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