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1965 (9) TMI 76 - HC - Income TaxExtract: .......g in the assessee-firm's books of account, namely ₹ 9,962. This is correct, as the assessee, who claims that the transaction was not a sale in the commercial sense, cannot have it both ways. For the reasons aforesaid, our answer to the question is in the negative. The Commissioner will pay to the assessee-firm the costs of this reference.
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