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1988 (11) TMI 71 - HC - Income TaxExtract: ....... Counsel are agreed that in view of this court s decision in the case of CIT v. Indokem Pvt. Ltd. 1981 132 ITR 125, which was followed in the case of CIT v. Mercantile Bank Ltd. 1988 169 ITR 44 (Bom), the question is required to be answered in the negative and in favour of the assessee. The question is accordingly so answered. No order as to costs.
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