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1995 (2) TMI 16 - MADRAS HIGH COURTExtract: .......ed by way of appropriation of profits and there was no liability of the current year which had to be met by the fund in redeeming debentures in the year. We hold for the said reason that the case needs a fresh examination in the light of the answer to the question as above by the Tribunal. The case is accordingly remitted to the Tribunal. No costs.
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