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1971 (12) TMI 37 - ANDHRA PRADESH HIGH COURTExtract: .......debt would not in any way go to swell the taxable profits of the assessee. Therefore, it is not a trade debt or a business debt as such and no deduction can be claimed with regard to the same. The Tribunal was, therefore, right in disallowing this claim. This question is, therefore, answered against the assessee. There will be no order as to costs.
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