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1976 (4) TMI 29 - HC - Income TaxExtract: .......tely sustained a loss in the transaction of arranging funds for its subsidiary it would not be reasonable to expect the company to distribute the said sum of Rs. 2,29,627 as dividends. Question No. 1 is answered in the negative and in favour of the assessee. As neither party has succeeded wholly in the reference, there will be no order as to costs.
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