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1988 (9) TMI 35 - BOMBAY HIGH COURTExtract: ....... with Rs. 1,55,000 taken to General Reserve No. 2 and not the aggregate amount of Rs. 5,65,000. As indicated, on this amount also, the Tribunal s approach and conclusion were correct. Accordingly, the question will have to be answered in the affirmative and in favour of the assessee. The parties, however, will bear their own costs of the reference.
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