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1979 (8) TMI 48 - ALLAHABAD HIGH COURTExtract: .......e assessee from its members in years of loss. The principle of Reed s case 1927 11 TC 625 (HL), as such, has no application. We, accordingly, answer both the questions in the affirmative in favour of the department and against the assessee. The department is entitled to its costs, which are assessed at Rs. 200. Counsel s fee is assessed at Rs. 200.
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