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1985 (7) TMI 27 - HC - Income TaxExtract: ....... assessee is concerned. The result is that the conditions of section 41(1) of the Act are satisfied and the assessee is liable to be taxed on the sum of Rs. 44,395. The answer to the question referred to us is in the affirmative, i.e., in favour of the Revenue and against the assessee. The parties are left to bear their own costs of this reference.
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