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1977 (4) TMI 18 - ALLAHABAD HIGH COURTExtract: ....... in the circumstances of the case, there was material before the Tribunal to conclude that the payment by the assessee of a share of his profit to the minor, was not a diversion of income by an overriding or paramount title, but an application of the assessee s income. In the circumstances of the case, we direct the parties to bear their own costs.
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