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1998 (11) TMI 106 - HC - Income TaxExtract: ....... finding of the Tribunal, the ratio of the decision of the Supreme Court in C-IT v. Artex Manufacturing Co. 1997 227 ITR 260, squarely applies to the facts of the present case. Accordingly, we answer question No. 1 in the affirmative i.e., in favour of the Revenue and against the assessee. Reference is disposed of accordingly. No order as to costs.
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