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1995 (7) TMI 116 - ITAT COCHINExtract: .......to be in contravention of section 11 of the Companies Act so as to declare it as an illegal association. The assessee is a validly constituted registered firm with money-lending business and therefore, it is entitled to registration notwithstanding the fact that the number of partners exceed 10 but below 20. 4. In the result, the appeal is allowed.
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