1988 (11) TMI 36

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..... circumstances of the case, the amounts being the deductions admissible as donations under section 80G of the Income-tax Act, 1961, for the assessment years 1970-71 and 1973-74 could not be considered as sums 'not includible' in income for Income-tax assessments and, therefore, would not fall for deduction under rule 4 for computing the capital under the Second Schedule to the Companies (Profits) .....

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