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1977 (8) TMI 34 - HC - Income TaxExtract: .......ry estate after making the payments of the pecuniary legacies contemplated bv clause 7 and clause 10(b) of the will. Accordingly, our answer to the reframed question is that the above income is assessable at the maximum rate under the first proviso to section 41(1) of the Indian Income-tax Act, 1922. The assessee shall pay the costs of the revenue.
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