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1992 (7) TMI 46 - HC - Income TaxExtract: .......wrongly assumed by the Tribunal to have existed. As a result of the aforesaid discussion, it must be held that the Tribunal was in error in invoking section 41(1) on the facts of the present case. The question referred for our opinion must be answered in the negative, that is, in favour of the Revenue and against the assessee. No order as to costs.
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