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2001 (7) TMI 68 - HC - Income TaxExtract: .......eing the situation, the Tribunal was justified in its conclusions. We are in agreement with the view expressed by the Gujarat and Madras High Courts and are unable to agree with the view expressed by the Karnataka and Allahabad High Courts. The answer to the question referred is in the affirmative, in favour of the assessee and against the Revenue.
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