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2004 (9) TMI 17 - MADRAS HIGH COURTLand and building, a portion of which was let out and a portion of which was occupied by the assessee - "Whether Tribunal is right in law in holding that the land and building, a portion of which was let out and a portion of which was occupied by the assessee are to be treated as the assets of the assessee's business and hence, not hit by the provisions of section 40 of the Finance Act, 1983?" – Held that the Tribunal has committed a grave error in reversing the order of the Assessing Officer by granting the relief which is erroneous and against the statute - question has to be answered in the negative, in favour of the Revenue and against the assessee
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