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1978 (11) TMI 3 - SC - Income TaxThere was a total disruption of the family and on the same day the separated members of the family constituted a partnership firm - ITO held that the entire sum of Rs. 24,252, representing the sale proceeds of the three trucks, should be deemed to be profits of the previous year by virtue of the second prov. to s. 10(2)(vii) - depreciation allowed to the family cannot be regarded as depreciation allowed to the appellant so second prov. to s. 10(2)(vii) not attracted
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