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1996 (9) TMI 178 - ITAT DELHI-BExtract: .......could not be applied. In the light of our above discussion, we hold that liabilities were rightly claimed by the assessee and no case for disallowing any portion of liabilities has been made by the Revenue. Accordingly, orders of CWT(A) are confirmed. 9. In the result, appeals of the Revenue and cross-objections of the assessee both, are dismissed.
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