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1977 (12) TMI 25 - BOMBAY HIGH COURTExtract: .......purposes of arriving at a proper valuation of these shares as far as the assessee is concerned and, in our view, therefore, such provision for a possible liability was not deductible. In the result, the question referred to us is answered in the negative and against the assessee. The assessee will pay to the Commissioner the costs of the reference.
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