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2002 (10) TMI 222 - AT - Income TaxExtract: .......ssociation of persons by section 167A of the Act. 32. We, therefore, hold that even if the income is assessable in the hands of the distributees, the same has to be assessed at the maximum marginal rate by virtue of provisions of section 167 A of the Act. 33. In the result, assessee s appeals are dismissed whereas the Revenue s appeals are allowed.
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