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1960 (1) TMI 34 - HC - Income TaxExtract: ....... sum of three lakhs of rupees raised by debentures was a capital receipt. To the question referred, we return the answer that the expenditure of ₹ 12,924 is a capital expenditure, not deductible under section 10(2)(xv). The assessee shall pay the costs of this reference, including advocate's fee ₹ 150. Question answered accordingly.
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