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1992 (10) TMI 122 - AT - Income TaxExtract: ....... rates could be applied. Therefore, since the claim for exemption under section 11 or section 12 is not by virtue of the fact that the provisions of section 13(1)(c) or (d) are contravened, the maximum marginal rate cannot be applied. We, therefore, fully allow the appeal and hold that there is no taxable income earned by the assessee in this year.
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