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1998 (12) TMI 20 - MADRAS HIGH COURTExtract: ....... would be entitled to claim deduction of the amount as and when it pays it to the Government or refunds it to its customers. The Tribunal has committed an error in passing the order that this amount cannot be taxed as the assessee s trading receipts. We answer the question referred to us, in favour of the Revenue and against the assessee. No costs.
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