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1964 (10) TMI 89 - HC - Income TaxExtract: .......; 1,570 per share was not a distribution out of accumulated profits of the company so as to be liable to be regarded as dividend within the meaning of section 2(6A)(c). 17. In the result we answer the question referred to us in the negative. The Commissioner will pay the costs of the reference to the assessee. 18. Question answered in the negative.
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