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1995 (11) TMI 128 - AT - Income TaxExtract: .......he light of the provisions contained in s. 38(2) of the Act. We find force in the plea of the learned Departmental Representative and we, therefore, hold that depreciation is also to be disallowed to the extent of 1/4th under s. 38(2) of the Act. Grounds Nos. 3 and 4 succeed and are allowed. 9. In the result, Revenue s appeal stands partly allowed.
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