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1960 (11) TMI 132 - HC - Income TaxExtract: .......thorities were wrong in holding that the profit should be computed at ₹ 3,11,646 or any other amount. I would accordingly answer the question of law referred by the Income-tax Appellate Tribunal in favour of the assessee and against the Income-tax Department. The assessee is entitled to the costs of this reference. Kanhaiya Singh, J.-I agree.
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