2000 (2) TMI 36

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....x Act, 1961, stood attracted to the facts of the case. The assessee is an investment company. It has persisted in not declaring the dividends. The assessee has made its investment in the UTI. It has invested Rs. 43.50 lakhs in the 1964 Unit Scheme. The directors of the company exercised their discretion in investing the said amount in the 1964 Unit Scheme, particularly, in view of the fact that th....