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1984 (9) TMI 95 - ITAT BOMBAY-DExtract: .......in applying the provisions of s. 40A(5) in respect of remuneration paid to Shri S. K. Bhattacharyya. It is urged that Shri Bhattacharyya being a person substantially interested in the assessee-company, the provisions of s. 40A(5) had no application. As explained in the earlier part of the order, the cross objection filed by the assessee is allowed.
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