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1989 (4) TMI 26 - HC - Income TaxExtract: ....... us to construe section 54E(1) in a manner which leads to an absurd or impossible situation, and which situation was, in fact, recognised by Parliament and provided for by enacting the second proviso thereto. For the above reasons, we answer the question referred in the affirmative, i.e., in favour of the assessee and against the Revenue. No costs.
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