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2000 (11) TMI 126 - HC - Income TaxExtract: .......ular assessment year. We find no justification to make this distinction in view of the position of law as laid down by the apex court in Kedarnath Jute Mfg. Co. Ltd. v. CIT 1971 82 ITR 363. The stand as taken by the assessee is clearly not acceptable. Our answer to the question is in the negative, in favour of the Revenue, and against the assessee.
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