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1974 (7) TMI 30 - BOMBAY HIGH COURT
Extract:
.......ght in allowing the purchase cost of the film, Pomposh , to be deducted in computing the business income of the assessee-company for the assessment year 1956-57. We, therefore, answer the question referred to us for our opinion in the negative and against the assessee-company. The assessee-company will pay the costs of the reference to the revenue.