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2001 (11) TMI 48 - HC - Income TaxExtract: .......old that the Tribunal was right in law in holding that the assessee was entitled to allowance of royalty payment of Rs.12,16,694 as revenue expenditure. All the three questions are, therefore, answered in the affirmative, i.e., in favour of the assessee and against the Revenue. The reference stands disposed of accordingly with no order as to costs.
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