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1970 (11) TMI 36 - HC - Income TaxWhether, on the facts and in the circumstances of the case, it was necessary that the factory should have been used by the assessee during the previous year for the surplus of Rs. 10,16,443 being assessed under section 10(2)(vii) -In fact, this is the consistent view that the Supreme Court has taken right from Liquidators of Pursa Ltd. v. Commissioner of Income-tax, and we see no reason to take a different view of the matter. In our opinion, thisquestion stands completely concluded by the aforesaid decision in favor of assessee.
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