1997 (1) TMI 73

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....ras High Court under section 261 of the Income-tax Act, 1961, arises out of a reference made by the Income-tax Appellate Tribunal in which the following question was answered by the High Court in favour of the assessee and against the Revenue (see [1979] 119 ITR 458, 459) : "Whether, on the facts and in the circumstances of the case, it has been rightly held by the Appellate Tribunal that....