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2004 (4) TMI 264 - AT - Income TaxExtract: .......me was accepted by the learned counsel and it was stated that the said amount may be deducted from the gross dividend. We, taking into account the facts and circumstances of the case, accept this offer and restrict the disallowance on account of management expenses to Rs. 1 lakh only. 20. In the result, the appeal of the assessee is partly allowed.
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