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1988 (11) TMI 35 - HC - Income TaxExtract: ....... that the provisions of section 79(a) of the Income-tax Act, 1961, are clearly attracted. We are of the view that the Tribunal placed a correct interpretation on the provisions of the aforesaid section. As a result, we answer both the questions in the affirmative, that is, in favour of the Revenue and against the assessee with no order as to costs.
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