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1953 (3) TMI 50 - HC - Income TaxExtract: .......,02,161 in the profit and loss account on 1-1-1947 should not be included in determining the capital of the company under Rule 2, Schedule II of the Business Profits Tax Act, 1947. 7. I would accordingly answer the question in favour of the department. The assessee must pay the cost of the reference hearing fee ₹ 250/-. Jamuar, J. 8. I agree.
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