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1996 (6) TMI 12 - HC - Income TaxExtract: .......t also followed the decision of the Supreme Court in Sassoon J. David and Co. P. Ltd. v. CIT 1979 118 ITR 261. A similar view was also taken by this court in a matter like this in CIT v. Sri Ramavilas Service Ltd., 1995 211 ITR 763. In view of the foregoing decisions, we answer question No. 1 in the affirmative and against the Department. No costs.
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