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2007 (1) TMI 139 - HC - Income TaxExtract: .......n ble Supreme Court has been followed by the Division Bench of the Allahabad High Court in the case of Manoo Lal Kedarnath 1978 114 ITR 884. In view of the above enunciation of law, we are of the view that the question posed at the outset has to be answered against the Revenue and in favour of the assessee. Accordingly the reference is disposed of.
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