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1972 (12) TMI 15 - MADRAS HIGH COURTAssessee, a private limited company incurred loss - whether dividends must be declared from the dividends equalisation fund - " Whether, on the facts and in the circumstances of the case, the provisions of section 23A(1) were not attracted for the assessment year 1959-60 ? " - Having regard to the facts and circumstances of this case, we are of the view that the provisions of section 23A(1) of the Indian Income-tax Act, 1922, were not attracted. The reference is accordingly answered in the affirmative and against the revenue
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