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1995 (7) TMI 146 - AT - Income TaxExtract: .......-clause (it) of clause (b) of sub-section 115A shall apply. We accordingly hold that had the income of Rs. 12,50,000 accrued to the foreign company in the year under appeal, it would have been taxable at the rate of 20 . In this view of the matter, assessee s appeal partly succeeds and is allowed, but the departmental appeal fails and is dismissed.
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