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1970 (3) TMI 33 - HC - Income TaxAccumulated profit - assessee making two balance sheet one under Electric Supply Act and another under IT Act - IT return showing loss but other return allowing depreciation and showing profit - for calculating profits u/s 2(6A)(e) depreciation should be allowed as per Income-tax Act itself - since IT return showing loss, company did not possess any accumulated profits - section 2(6A)(e) not applicable
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