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1997 (7) TMI 80 - ALLAHABAD HIGH COURTExtract: .......he profit, it is not necessary that the books of account should have been actually closed, because the assessment of the predecessor firm is not dependent on the closing of the accounts. For the reasons, both the parts of the question referred to this court are answered in the affirmative, that is, in favour of the Revenue and against the assessee.
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