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1997 (9) TMI 57 - HC - Income TaxExtract: .......provisions of the Companies Act stand incorporated by virtue of sub-section (1A) to section 115J, the assessee should have prepared the balance-sheet of profit and loss in terms of the Companies Act. Hence, the view taken by the Tribunal is not correct. Accordingly, we answer these questions of law in favour of the Revenue and against the assessee.
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