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2007 (1) TMI 289 - AT - Income TaxExtract: ....... in nature, the claim has to be allowed as deduction under section 37(1) of the Income-tax Act. 20. Since the amount is not claimed as deduction under section 36(1)(iii) but by way of payment in the course of its business, the same is to be deducted by computing the income under section 28/37(1) of the Act. 21. In the result, the appeal is allowed.
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