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1988 (7) TMI 28 - HC - Income TaxExtract: .......year. The Supreme Court held, affirming the decision of the Allahabad High Court, that the firm should be allowed to do so. No other question arose or was considered therein. For the above reasons, I agree with my learned brother that the question referred must be answered in the affirmative, i.e., in favour of the assessee and against the Revenue.
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