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Assessee has raised the ground that the Ld. CIT(A) has erred in law as well as on facts in confirming the income assessed by Ld. AO at Rs. 1,39,820/- as against income declared at Rs. 37,080/- without allowing claim of expenditure incurred against the income for the genuine and actual expense not disputed by the AO which were required to be reduced for calculating the income of the assessee at Rs. 37,081/- as rightly calculated by the assessee after adjusting the expenses as per income and expenditure account.

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Section 167B of the Income-tax Act, 1961—Association of persons— Income of the members being in the slab of maximum rate of tax, the society is not entitled to the benefit of exemption from the minimum amount and liable to the incidence of maximum marginal rate income of section 167B(ii). - AIR FORCE NAVY FARM OWNERS WELFARE ASOCIATION V/s ITO - [2020] 183 ITD 611 (ITAT-DELHI)

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