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2009 (1) TMI 2 - HC - Income TaxWhether closure of the DCM mill unit would amount to closure of business as contended by the Revenue – tribunal finding that as the assessee continued business in the three remaining units there was no closure of business, even after the closure of the DCM Mill Unit, is correct – therefore tribunal was right in allowing deduction of retrenchment compensation incurred by the assessee, interest on money borrowed in respect of that DCM unit, legal expenses incurred on closure of that DCM Unit etc.
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