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2003 (7) TMI 39 - HC - Income Tax"Whether, on the facts and in the circumstances of the case, the Tribunal was right in law and facts in holding that the ship which has disappeared could be considered as destroyed and consequently the provisions of section 41(2) of the Income-tax Act, 1961, could be attracted?" - It cannot be said that the ship was destroyed as there is no evidence for that. Missing does not mean destroyed - We answer the question of law referred to us in the negative and in favour of the assessee.
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