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2002 (9) TMI 71 - HC - Income Tax"Whether, on the facts and in the circumstances of the case and having regard to the provisions of Explanation (ii) to the second proviso to section 37(4) of the Income-tax Act, the Tribunal is right in law in holding that lease rent paid for guest house cannot be disallowed under section 37(4) of the Income-tax Act, 1961?" Our answer to the question, therefore, is in favour of the assessee and against the Revenue.
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