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1989 (7) TMI 70 - DELHI HIGH COURTExtract: .......s Ltd., the assessee continued to exist and its income was being taxed. The bonus must be in respect of the year in which the business was being carried on by the assessee though the liability arose after the business has been transferred. In our opinion, the answer to the aforesaid question is self-evident. The petition is, accordingly, dismissed.
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