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1996 (11) TMI 28 - MADRAS HIGH COURTExtract: .......R 753. For the foregoing reasons, we hold that there is no infirmity in the order passed by the Tribunal in holding that the debenture redemption sinking fund is a reserve and not a provision . Accordingly, we answer the question referred to us in the affirmative and against the Department in both the assessment years under consideration. No costs.
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