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1988 (11) TMI 66 - HC - Income TaxExtract: .......accounts in the ledger have been kept by the assessee in respect of the new unit upon the basis of which the profits have been determined. Accordingly, the first question of law referred to us is answered in the negative and in favour of the assessee. Having regard to that answer, questions Nos. 2 and 3 need not be considered. No order as to costs.
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