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1971 (7) TMI 22 - HC - Income TaxApplicability of s. 2(6)(iii) - assessee controlling the company and also contributed over 33% of its capital – Whether the sum spent by company after the personal necessities of the assessee is income u/s 2(6C)(iii) of IT Act, 1922 - held that assessee comes within clause 2(6C)(iii) - mere deletion of a portion of that clause from section 2(24)(iv) of the new Act will not make any difference and will reflect what the legislature had always intended the law to be
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