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1985 (4) TMI 41 - HC - Income TaxExtract: .......llowance under s. 32(1) of the I.T. Act in respect of crankshaft machine during the assessment year 1972-73. The view taken by the Appellate Tribunal in this respect appears to be justified. We therefore, answer the reference in the affirmative and in favour of the Revenue and against the assessee-firm. The parties are left to bear their own costs.
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