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1990 (4) TMI 27 - HC - Income TaxExtract: .......y when the amount set apart could be treated as an expenditure and this test has relevancy only to the second ingredient of section 37 already referred to by us above. In view of the above discussion, the first question referred to us also will have to be answered in the affirmative and against the assessee. The reference is, accordingly, answered.
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