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1990 (2) TMI 6 - KARNATAKA HIGH COURTExtract: .......ps. We agree with the finding and reasons given by the Appellate Tribunal in rejecting the claim of the assessee. It was rightly held that the liabilities arose to the assessee-company under the amalgamation scheme and not in the course of its business. In the result, the second question also is answered in the affirmative and against the assessee.
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