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1976 (8) TMI 24 - HC - Income TaxExtract: .......at amount out of the securities is the stock-in-trade or circulating capital of the assessee and which amount is the capital investment of the assessee-bank. In the result we answer the question of law referred in the negative and in favour of the assessee. The reference is answered accordingly. We make no order as to costs. D. PATHAK J.---I agree.
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