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1986 (7) TMI 74 - HC - Income TaxExtract: .......rstanding. No doubt, they have faithfully followed the decision of the Andhra Pradesh High Court in Hyderabad Race Club s case 1979 120 ITR 185, but with respect, we are unable to agree with the view taken therein. In the result, we answer the question in the negative and in favour of the Revenue. In the circumstances, we make no order as to costs.
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