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1992 (3) TMI 121 - ITAT COCHINExtract: ....... be assessed in respect of the income received by him. For these reasons also, we hold that the assessee is entitled only to 8 per cent share in the profits and losses of the firm DKB and Co. plus 38 per cent of 8 per cent share made over to Vinayaka Traders. The ITO is directed to quantify the amount of share accordingly. 4. The appeal is allowed.
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