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1997 (8) TMI 43 - MADHYA PRADESH HIGH COURTExtract: .......he old business. In this connection, reference may be made to Kanhiram Ramgopal v. CIT 1988 170 ITR 41 (MP) and CIT v. Malva Vanaspati and Chemicals Co. Ltd. 1997 226 ITR 253 (MP). Therefore, we are of the opinion that the view taken by the Tribunal is justified and we answer the aforesaid question in favour of the assessee and against the Revenue.
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