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1966 (4) TMI 85 - HC - Income TaxExtract: .......aid out for the business. (4)It is not also claimable as bad debt in view of the fact that it was not a debt advanced as a trading debt in the course of the business. In the result, the reference cannot be decided in favour of the assessee and the question posed before us is answered in the negative. The assessee shall pay the costs to the revenue.
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