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1968 (9) TMI 42 - HC - Income TaxRebates on the undistributed profits of the company - ITO passed orders under section 23A(1) by which the entire undistributed profits were deemed to have been distributed as dividends to the shareholders. As a consequence, the assessment orders were reopened under section 34 with the result the rebates granted earlier were withdrawn - action of ITO is justified
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