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1964 (2) TMI 81 - HC - Income TaxExtract: .......on to the tax can also be allowed. An expenditure to become liable must be, in our opinion, incurred in the earning of the income or profit. In the result, therefore, the answer to the question referred to us is in the negative. The applicant will pay to the respondent the costs of this reference. SEN J.--I agree. Question answered in the negative.
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