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1998 (6) TMI 22 - HC - Income TaxExtract: .......circumstances. in our opinion, the decision in Vallabh Glass Works Ltd. s case 1982 137 ITR 589 (Guj), stands impliedly overruled to that extent. The second question in both references, therefore, must be answered in the negative, i.e., in favour of the assessee and against the Revenue. References are disposed off accordingly. No order as to costs.
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