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1991 (3) TMI 98 - BOMBAY HIGH COURTExtract: .......tion as on the relevant date. The answer to the first question will, therefore, also be in the negative and in favour of the Revenue. However, while giving effect to our judgment, the Tribunal will have to find out the excess, if any, in the said amount of reserve over the assessee s liability and treat that part as a reserve. No order as to costs.
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