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1978 (9) TMI 35 - KARNATAKA HIGH COURTExtract: .......g of s. 4(3)(vii) of the Indian I.T. Act, 1922. In view of the decision of this court in Hindustan Aircraft Ltd. s case 1963 49 ITR 471 (Mys), we answer the questions referred to us in the affirmative and in favour of the revenue and against the assessee. Having regard to the circumstances of the case, we direct the parties to bear their own costs.
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