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2007 (11) TMI 1 - HC - Income TaxRevenue contended that (i) Provisions of Section 11(2)are not applicable in case of Assessee's trust (ii) Deposit in PY prior to PY of relevant AY can't consider as accumulation of income for deduction (iii) Amount loaned to other can't construed as application of income - Held first and second in favour of revenue and third in assessee
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