1988 (12) TMI 4

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....ey read thus : " (i) Whether the general reserves and taxation reserves are allowable expenditure ? (ii) If question No. 1 is answered in the affirmative, whether such expenditure or allowance would catagorically be covered by sections 30 to 43A of the Income-tax Act, 1961 ? (iii) Whether the taxation reserve or general reserve is liable to be added back under rule 5(a) of the First Schedule to....