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1999 (6) TMI 5 - HC - Income TaxExtract: ....... on all fours with the judgment in CIT v. Hindustan Shipyard Ltd. 1977 109 ITR 158(AP). We, therefore, are of the opinion that the Tribunal is right in its view that there is no business connection between the assessee-company and the foreign company. In the light of the above, we answer the two questions in the affirmative and against the Revenue.
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