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2000 (3) TMI 167 - AT - Income TaxExtract: .......s. 50 lakh transferred to debenture redemption reserve from the P and L a/c as prepared for the assessment year under appeal is to be allowed as deduction while computing the book profit for the purpose of s. 115J of the Act. Accordingly, the additional grounds are decided in favour of the assessee. 11. In the result, the appeal is allowed in part.
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