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1997 (12) TMI 90 - HC - Income TaxExtract: .......of the view that the reliance placed by the CIT on the judgment of the Supreme Court in the case of McDowell and Co. Ltd. vs. CTO (supra) was wholly incorrect since the ratio in that case could not be applied to the facts of the present case. 5. For the aforesaid reasons, therefore, we answer the question in the affirmative and against the Revenue.
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