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1979 (12) TMI 88 - AT - Income TaxExtract: .......e facts, we are satisfied that the assessee is not entitled to claim that Rs. 2,10,000 set apart for the Capital Redumption Fund is not part of the Society s income. The Society also cannot claim that there is a diversion by overriding title. There is no loss to be considered under s. 28 nor any expenditure under s. 37. 10. The appeal is dismissed.
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