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1993 (12) TMI 18 - HC - Income TaxExtract: .......ng 40 per cent. of income by way of share in the firm of Messrs. Ramniklal J. Kinariwala and Co. was not includible in the total income of the assessee. In the result, the question referred is answered in the affirmative, i.e., in favour of the assessee and against the Revenue. The reference stands disposed of accordingly with no order as to costs.
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