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1945 (3) TMI 22 - CHIEF COURT OF SINDExtract: .......formed solely for the purpose of depreciation of or loss on the market value of the securities, a power which had been denied to the Income-tax Officer by the Bombay High Court in Western India Life Assurance Co., Ltd.’s case (supra). It does not in any way affect the interpretation of rule 30 of the Income-tax Rules, which we have put on it.
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