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1976 (1) TMI 22 - HC - Income TaxExtract: .......We note in particular that the facts in Karanpura Development Co. Ltd. s case 1962 44 ITR 362 (SC) before the Supreme Court are more or less similar to the facts before us in the instant case. For the reasons mentioned above we answer the question in favour of the assessee and in the affirmative. There will be no order as to costs. DEB J.--I agree.
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