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1989 (7) TMI 59 - CALCUTTA HIGH COURT
Extract:
.......Supreme Court in the case of Nalinikant Ambalal Mody 1966 61 ITR 428 will be applicable in spite of the introduction of section 176(4) of the Act. For the reasons aforesaid, the question referred in this reference is answered in the affirmative and in favour of the assessee. There will be no order as to costs. BHAGABATI PRASAD BANERJEE J. -I agree.