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1998 (8) TMI 7 - MADRAS HIGH COURTExtract: .......erence to a company as well. That makes no difference in principle. If the liability is nil, it is only nil whether it be for a company or for the purpose of determining the valuation of the shares held by the assessee in the company. We, therefore, answer the two questions referred to us in favour of the Revenue and against the assessee. No costs.
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