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1991 (1) TMI 455 - SC - Income TaxExtract: .......s on 1-1-1963 ₹ 76 lakhs was provision and cannot be computed as capital. Only ₹ 14 lakhs would be treated to be reserve. The Tribunal and the High Court, therefore, correctly laid down the law and it does not warrant interference. The appeal is accordingly dismissed but in the circumstances parties are directed to bear their own costs.
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