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1981 (11) TMI 8 - MADRAS HIGH COURTExtract: .......nce-sheet. Rule 1A also applies to cases where there is an excess declaration of dividend over and above the provision made in the balance-sheet. The rule lays down that to the extent of the excess, the reserves must be deducted. For the reasons aforesaid, the reference is answered against the assessee. There will, however, be no order as to costs.
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