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1973 (5) TMI 12 - HC - Income TaxSuper Profits Tax Act, 1963 - amount set apart for discharge of specific and definite liability which was actually paid later – whether it amounts to reserve - question is answered in the affirmative and in favour of the assessee so far as items relating to bonus, excess provision for taxation and the excess provision for development reserve are concerned. As regards the dividend and the actual liability for income-tax, the question is answered against the assessee.
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