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1990 (9) TMI 32 - HC - Income Tax
Extract:
.......sent case also, the amount of Rs. 2,29,053, the assessee-firm paid to the heirs of late Shri Petigara and late Shri Khambata under a legal obligation and the amount was never received by or reached the assessee-firm as its income. Accordingly, we answer the question referred to us in the negative and in favour of the assessee. No order as to costs.