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1984 (8) TMI 36 - HC - Income TaxExtract: .......ayment made by a guarantor to a creditor which has benefited a debtor. Having regard to these facts and in the circumstances of this case, it does not appear to us that the amount of Rs. 5 lakhs can even be considered to be the value of any benefit arising from the assessee s business. The application is, therefore, dismissed. No order as to costs.
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