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1979 (10) TMI 69 - KARNATAKA HIGH COURTExtract: ....... was no legal obligation to create any statutory reserve in that year. It is also in accordance with the relevant provision of law. Therefore, the ground on which the Commissioner interfered with the order of the ITO is not tenable. Accordingly, the rule is made absolute and the order of the Commissioner is quashed. Parties to bear their own costs.
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