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2007 (1) TMI 242 - AT - Income TaxExtract: .......e deducted from the total income of the previous year. 6.2 In view of the foregoing discussion, in the light of the interpretation of the applicable provision of the statute, we hereby reverse the finding of ld. CIT(A) and confirm the action of the Assessing Officer. Grounds of the revenue are allowed. 7. In the result, revenue s appeal is allowed.
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