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1978 (3) TMI 83 - HC - Income TaxExtract: .......the assessee in giving the annuity deposit scheme is, primarily, payment of a lesser amount of tax in the year of the deposit and not earning of the interest included in the instalments. For the aforesaid reasons, we answer question No. 2 in the affirmative and in favour of the revenue. There will be no order as to costs. C. K. BANERJI J.--I agree.
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