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1991 (9) TMI 20 - ALLAHABAD HIGH COURTExtract: ....... that the Tribunal was right in law in holding that the interest of the assessee as partner of the aforesaid two firms was exempt under section 5(1)(xxxii) of the Act and that the business activities of the said two firms were those of an industrial undertaking. Since none has appeared on behalf of the assessee, there shall be no order as to costs.
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