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1977 (10) TMI 11 - HC - Income TaxExtract: .......lends itself to us in preference to the one taken by the Full Bench of the Kerala High Court. In our opinion, the Tribunal was right in permitting the deduction of both the items under s. 37(1) of the I.T. Act. Accordingly, the question referred to us is answered in the negative, against the revenue. The revenue shall pay the costs of the assessee.
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