1990 (4) TMI 39

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..... , and levied additional tax, of Rs. 18,540 on account of non-distribution of dividend. The profits which were available for distribution, according to the Income-tax Officer, was Rs. 37,083. In appeal, the Commissioner of Income-tax (Appeals) deleted the tax after coming to the conclusion that, judged from business considerations, the non-declaration of the dividend was justified. The Income-tax .....

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