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1988 (12) TMI 99

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..... Commissioner of Income-tax : "1. Whether, on the facts and in the circumstances of the case, the said losses of Rs. 15,19,078 and/or Rs. 1,57,910 arising from the devaluation of the Indian rupee arose in the course of or incidental to the assessee's business and were allowable as revenue deductions ?" At the instance of the assessee : "2. Whether, on the facts and in the circumstances of th .....

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..... h the assessee in India. According to Shri Dastur, the facts in this case are akin to the facts in the Supreme Court case and, therefore, the matter should be sent back to the Tribunal for finding out whether the unremitted profits were kept for trading purposes or for capital purposes. In our view, the facts in the Supreme Court decision are entirely different. In the instant case, the profits .....

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