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1988 (7) TMI 16 - CALCUTTA HIGH COURTExtract: .......ITR 812, in the matter of distribution of dividends, a company can legitimately be expected to look into the various outgoings to judge the situation in its reality and not merely to look to its business profits. We, therefore, decline to answer the question which has been referred to us. There will be no order as to costs. K. M. YUSUF J. -I agree.
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