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1979 (12) TMI 97 - AT - Income TaxExtract: .......se of Jaswantrai vs. CWT (15). In my view, therefore, the computation of the capital should be made according r. 19A as on the first day of the computation period and also on the last day of the computation period, and out of the two, which ever is higher, should be adopted as the capital employed in the undertaking in respect of the previous year.
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