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2009 (6) TMI 1014

INCOME TAX APPEAL NO. 930 OF 2008 - Dated:- 30-6-2009 - V. C. Daga And J. P. Devadhar, JJ. Mr.Vimal Gupta for appellant Mr.A.K.Jasani for respondent. ORDER P. C. 1. Perused appeal and impugned order of the Income Tax Appellate Tribunal ('the trib .....

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to the assessee on the concessional sales and, therefore, the assessee was not liable to be assessed on the difference ? " 3. Learned counsel for the Revenue brought to our notice the judgment of this Court in the case of CIT V/S. Terna Shetkar .....

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ding the field. 4. The above Circular issued by the Board of Direct Taxes bearing No.117 dated 22nd August, 1973 reads as under:- " 389. Rebate allowed to members by consumer cooperatives Stores - Whether allowable as business deduction 1. I am .....

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value of the purchases made by them during a year should be allowed as a deduction in computing the business income of such a society. " 5. Mr.Gupta, in this appeal tried to draw a distinction on facts which have no role to play to take differen .....

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