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1988 (12) TMI 37 - BOMBAY HIGH COURTExtract: .......ry because of lack of profits in those years, is correct Counsel are agreed that the issue is covered by this court s decision in Indian Oil Corporation Ltd. v. S. Rajagopalan, ITO 1973 92 ITR 241 and that the question should, therefore, be answered in the affirmative and in favour of the assessee. The question is so answered. No order as to costs.
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