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1999 (7) TMI 58 - HC - Income TaxExtract: .......t of initial membership fee paid to the said organisation could not be said to be capital expenditure and that it shall have to be regarded as an expenditure revenue in nature. For the foregoing reasons, the question is answered in the affirmative, i.e., in favour of the assessee and against the Revenue. There will, however be no order as to costs.
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