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1986 (4) TMI 123 - AT - Income TaxExtract: ....... Rs. 3,75,320 on which tax of Rs. 2,45,270 was levied cannot be sustained. The grossing up has to be done as laid down in the above decision of the Andhra Pradesh High Court. The decision of the Supreme Court in the case of McDowell and Co. Ltd. has absolutely no application to the facts of the instant case. 8. In the result, the appeal is allowed.
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