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1996 (9) TMI 41 - MADRAS HIGH COURTExtract: .......cannot be accepted. Accordingly, we see no infirmity in the order passed by the Tribunal in holding that the deduction of Rs. 1,23,000 is not possible under rule 1(xi) of the First Schedule to the Companies (Profits) Surtax Act. In that view of the matter, we answer the questions referred to us in the affirmative and against the assessee. No costs.
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