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2001 (3) TMI 70 - HC - Income TaxExtract: ....... it. A similar view has been expressed by the Bombay High Court in CIT v. Harit Synthetic Fabrics Pvt. Ltd. 1986 162 ITR 640 and CIT v. Ormerods (I) (P) Ltd. 1989 176 ITR 470 (Bom). The above being the position, the question referred is answered in the affirmative, in favour of the assessee and against the Revenue. The reference stands disposed of.
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