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1945 (3) TMI 15 - HC - Income TaxExtract: ....... no doubt that what was paid in 1934 was a proper payment of duty and it was properly debitable to the profit and loss account as an expense in 1934. It cannot be called a debt which became a bad debt in 1941. Therefore we must answer the question in the negative. The assessee must pay the costs of the reference. Reference answered in the negative.
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