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1982 (7) TMI 86 - ANDHRA PRADESH HIGH COURT
Extract:
.......d or conduct, expressed its intention of discontinuing the business altogether, as was done by the assessee in New Savan Sugar and Guy Refining Co. Ltd. v. CIT 1969 74 ITR 7 (SC). In the totality of this state of affairs, legal and factual, we are inclined to answer the question referred to us in affirmative and in favour of the assessee. No costs.