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1989 (5) TMI 30 - HC - Income TaxExtract: .......a deduction in any earlier assessment year. This being so, there can be no escape from the conclusion that the said amount cannot be brought to tax in terms of section 41(1) of the Act. The reference is, consequently, hereby answered in the affirmative, in favour of the assessee and against the Revenue. There will, however, be no order as to costs.
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