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1987 (4) TMI 41 - BOMBAY HIGH COURT
Extract:
.......the Income-tax Rules, 1962, and the contention was not that the assessee was not liable to the levy at all. Accordingly, the above two questions are also answered in the negative and in favour of the Revenue. In the result, all the six questions posed in this reference are answered in the negative and in favour of the Revenue. No order as to costs.