1977 (10) TMI 50

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....26 lakhs for the asst. yr. 1971-72. For the asst. yr. 1973-74 the claim was Rs. 4.11 lakhs. The ITO allowed the entire amortisation for 1971-72. However, he reopened the assessment on the ground that the amortisation figure was not in accordance with the circular issued by the Board in 1972. In the re-assessment he reduced the amortisation figure. For the asst. yr. 1973-74 he reduced the figure by....