1979 (10) TMI 103

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..... lved is 1977-78 for which the previous year ended 30th June, 1976. 2. The assessee, in the course of assessment proceedings, urged the ITO that he, while computing the deduction under s. 80J of the Act should include the amounts of the secured loans as part of the capital in view of the decision of the Calcutta High Court in Century Enka Ltd. vs. CIT(1). This stand of the assessee was negatived .....

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