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1988 (6) TMI 19 - HC - Income TaxExtract: .......sion of the Supreme Court in Cloth Traders (P.) Ltd. v. Addl. CIT 1979 118 ITR 243 has since been overruled by the Supreme Court in Distributors (Baroda) (P.) Ltd. v. Union of India 1985 155 ITR 120. For the above reasons, we answer the question referred to above in the negative, that is, in favour of the Revenue and against the assessee. No costs.
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