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1977 (5) TMI 86 - HC - Income TaxExtract: .......0 was declared as dividends, ₹ 47,000 was only distributed by the company. Therefore, the Tribunal was right in holding that ₹ 47,000 and not ₹ 1,05,000 was distributed as dividends. We accordingly return our answer in the affirmative and in favour of the assessee. 21. There will be no order as to costs. R.N. Pyne, J. 22. I agree.
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