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2007 (2) TMI 202 - HC - Income TaxExtract: .......High Court in Seetharama Lakshmi Rice and Groundnut Oil Mill Contractors Co. v. ITO 1978 111 ITR 212 and the Himachal Pradesh High Court in Seth Panchhi Ram and Co. v. CIT 1991 192 ITR 289. In view of our above discussions, the question referred is answered in favour of the Revenue and against the assessee. The reference is disposed of accordingly.
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