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1959 (12) TMI 40 - HC - Income TaxExtract: .......ing net profits and gains of the business. In my opinion the expenditure is not allowable as a deduction while computing the profits of the business. I, therefore, propose that the question be answered in the negative. The Commissioner of Income-tax is entitled to the costs of the reference. LAHIRI, C.J.- I agree. Question answered in the negative.
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