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1975 (2) TMI 32 - ITAT COCHINExtract: ....... will not decide the question as to whether an amount really is a reserve or not. What has to be seen is the substance of it. We have already noted out finding that in substance these are general reserves and not for liquidating any specific liability. 11. In the result, the Departmental appeals are dismissed while the assessee s appeal is allowed.
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