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1994 (7) TMI 35 - HC - Income TaxExtract: .......e assessee at Rs. 71,748, treating them as capital in nature, particularly when new construction was not done either in the year or in the succeeding years. The Tribunal was also justified in holding that the scrap value of the dismantled asset was Rs. 25,000. Accordingly, the reference is answered in favour of the Revenue and against the assessee.
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