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1988 (5) TMI 24 - HC - Income TaxExtract: .......the account of the Hindu undivided family, which he represented as karta and in which capacity alone he was partner of the assessee-firm, is hit by the prohibition contained in section 40(b) of the Income-tax Act, 1961. We answer the questions referred in both these references accordingly in favour of the assessee and against the Revenue. No costs.
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