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1978 (6) TMI 23 - HC - Income TaxExtract: .......rves and dividend this amount was left unappropriated and without being set apart for any purpose. We hold that this amount was unappropriated profits and not reserve. Accordingly, we answer the question referred in the affirmative and in favour of the revenue. In the facts and circumstances, there will be no order as to costs. BANERJI J.--I agree.
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