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1980 (12) TMI 26 - HC - Income TaxExtract: .......Tribunal was right in holding that the excess provision for taxation liability should be treated as reserve, but the excess provision should be the difference between Rs. 8 1/2 lakhs and Rs. 13 lakhs which works out to be Rs. 4,50,000. The question is answered accordingly. Each party will pay and bear its own costs. SUDHINDRA MOHAN GUHA J.-I agree.
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