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2001 (5) TMI 41 - HC - Income TaxExtract: .......ect to the limit prescribed in the rules, the limit prescribed in the rules cannot be ignored for the purpose of disallowance under section 40A(5) as the purpose and object of the limit is same in the case of employee and employer both. In the result, we answer the question in the negative that is, in favour of the Revenue and against the assessee.
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