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1994 (12) TMI 38 - MADRAS HIGH COURTExtract: .......the Tribunal has answered them, that is, the Wealth-tax Officer was required to take notice of the declaration of dividends by the company before the valuation date at a general body meeting of the company and deduct the same from the value of the assets of the company for the purpose of working out the break-up value as contemplated under rule 1D.
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