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1991 (4) TMI 34 - HC - Income TaxExtract: .......not be said that book asset was created to bring capital into existence. Ordinarily, that would mean that an asset which is not in fact an asset is created to bring capital into existence. Accordingly, we are in agreement with the Tribunal and answer the question referred to us in the affirmative and in favour of the assessee. No order as to costs.
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