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1984 (12) TMI 40 - HC - Income TaxExtract: ....... the Hindu undivided family apart from its capital contribution. In the instant case, there is a finding of fact recorded by the Tribunal that the amount utilised by the assessee-firm was the capital of the firm. The circular, therefore, is clearly inapplicable. In the result, we answer the question in the affirmative and against the assessee-firm.
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