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1988 (9) TMI 20 - HC - Income TaxExtract: ....... was discussion touching on this aspect of the case. The first part of the question is answered in the negative, in favour of the assessee and against the Revenue. In view of the answer to the first part, there is no necessity to answer the second part as regards escalation of the value of the assets of the firm amounting to Rs. 6,45,459. No costs.
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