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1997 (7) TMI 25 - BOMBAY HIGH COURTExtract: .......e Supreme Court in CIT v. Indian Engg. and Commercial Corporation P. Ltd. 1993 201 ITR 723, and following the same, it should be answered in favour of the assessee. In view of the above statement, both the questions referred to us are answered in the affirmative and in favour of the assessee. Reference disposed of accordingly. No order as to costs.
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