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1978 (1) TMI 10 - HC - Income TaxExtract: .......aiah Chetty and Co. 1977 106 ITR 556, this court held that where money was advanced by the joint family, the interest realised by the joint family on that capital does not come within the purview of s. 40(b) of the Act. For the reasons recorded, we answer the question in the negative and in favour of the assessee with costs. Advocate s fee Rs. 250.
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