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1978 (6) TMI 4 - BOMBAY HIGH COURTExtract: ....... the dividend paid would be deemed to be paid out of such fictional distributable income and only the balance of Rs. 706 would qualify for relief under s. 49BB. This may be deemed to be the answer to the question referred to us. The matter was res integra and in the special circumstances of the case the parties are directed to bear their own costs.
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