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Bombay High Court Upholds Assessment of Private Specific Trust as Association of Persons, Dismissing Assessee’s Appeal. Interest Disallowance under Section 40(ba) of Income Tax Act, 1961 Affirmed as Finding of Fact Not Perverse, Assessee’s Own Declaration as AOP Held Relevant.

The appeal under Section 260A of the Income Tax Act, 1961 arose from the Assessment Year 1998-1999 concerning the status of the assessee, Mehta Jaisin...