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1978 (11) TMI 6 - HC - Income TaxExtract: .......nswer the question in the negative and in favour of the assessee. In our opinion, on the facts and in the circumstances of the case, the Tribunal was not correct in holding that the managing director s remuneration allowable for the assessment year 1970-71 was only Rs. 1,200 per month. There will be no order as to costs. DIPAK KUMAR SEN J.-I agree.
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