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1980 (4) TMI 39 - HC - Income TaxExtract: .......f the partnership. This amount of 25 of the income of the partnership was, therefore, liable to be clearly diverted before the profits reached the partners of the assessee-firm. Consequently, the question referred to us must be answered in the affirmative and in favour of the assessee. The revenue to pay the costs of this reference to the assessee.
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