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1961 (4) TMI 102 - GUJARAT HIGH COURTExtract: .......o doubt as to the reality of such costs. In our view it is not shown that the reserves in this case in any way or to any extent represent accumulations of past profits. In the result the answer to the question is in the negative. We direct the Commissioner to pay to the assessee company the costs of the reference. Question answered in the negative.
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