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1988 (2) TMI 3 - ANDHRA PRADESH HIGH COURTExtract: .......he law already existing and, consequently, it will be effective for the assessment year 1975-76 too. In that view of the matter, we uphold the Revenue s claim that only the net dividend shall be excluded and not the gross dividend. The question is answered in the negative, that is to say, in favour of the Revenue and against the assessee. No costs.
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