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1994 (3) TMI 7 - HC - Income TaxExtract: ....... return, the Income-tax Officer is bound to allow the deduction of depreciation in computing the income from business. The assessment made by the Income-tax Officer, in this case, is, therefore, correct and in accordance with law. The question referred to us is, therefore, answered in the negative, in favour of the Revenue and against the assessee.
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