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1988 (11) TMI 78 - PUNJAB AND HARYANA HIGH COURTExtract: .......he Companies Act is not an authority constitued under any law and cannot take the benefit of concession granted under section 10(29) of the Income-tax Act, 1961. Following the aforesaid view of the Calcutta High Court, the question is answered in the affirmative, i.e., against the assessee and in favour of the Revenue but with no order as to costs.
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