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2008 (9) TMI 1002 - BOMBAY HIGH COURTExtract: ....... in AIR 1972 Supreme Court 2195. In paragraph 20 of the judgment, the Supreme Court held that, such an expenditure was allowable under Section 37(1) of the Income Tax Act and was not an expenditure of a capital nature. Therefore, following this judgment of the Supreme Court, we feel that appeal deserves to be dismissed and is accordingly dismissed.
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