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1954 (8) TMI 44 - HC - Income TaxExtract: .......is the excess amount realised from the sale of machinery over its written down value. It follows that the question referred to the High Court must be answered in favour of the assessee and against the Income Tax Department. The assessee is entitled to the costs of the reference. Hearing fee ₹ 250. Reference answered in favour of the assessee.
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