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1965 (7) TMI 40 - HC - Income Tax
Extract:
....... in that sense the chips are a new production as a result of a manufacturing process.We are of opinion that the Tribunal was right in holding that the assessee is entitled to the benefit of section 15C.The reference is answered in favour of the assessee and against the department. Counsel s fee Rs. 250. Reference answered in favour of the assessee.