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1976 (11) TMI 53 - HC - Income TaxExtract: .......that once the income of an entity has been assessed and taxed in the hands of other taxable entities referred to in section 3 of the old Act no tax could be levied on the first entity cannot prevail under the new Act. The reference is, therefore, answered in the affirmative, in favour of the revenue and against the assessee. A. S. BAINS J.-I agree.
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