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1979 (7) TMI 41 - MADRAS HIGH COURT
Extract:
....... an earlier year cannot be taken as satisfying the specific requirements of s. 34(3)(a), viz., of a debit to the profit and loss account of the relevant previous year. The result is that the question referred has to be answered in the negative and against the assessee. The Commissioner will be entitled to his costs. Counsel s fee Rs. 500 (one set).