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1989 (4) TMI 66 - HC - Income TaxExtract: .......be permitted. Following the aforesaid decision, we hold that for all intents and purposes, the directors were the owners of the building and thus the rental income received by the directors could not be included in the income of the company. Accordingly, we answer the question in the affirmative, in favour of the assessee with no order as to costs.
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