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1989 (3) TMI 64 - HC - Income TaxExtract: .......he deposit was paid at a time when there was no legal buying agency in operation, the assessee could not claim the benefit of Explanation (b)(vii) appended to the aforesaid sub-section. Accordingly, the third question is answered in favour of the Revenue, in the negative. In view of the divided success, the parties are left to bear their own costs.
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