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1988 (8) TMI 119 - AT - Income TaxExtract: .......y the net dividend income was taxable in the hands of the assessee. 18. Respectfully following the said decisions of the Hon ble High Courts we hold that only the net dividend income received by the assessee should be brought to tax. The ITO is therefore, directed to modify the assessment accordingly. 19. In the result both the appeals are allowed.
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