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1962 (10) TMI 71 - HC - Income TaxExtract: .......ing business. Legal expenses were incurred to get rid of a liability which was capital in nature. This contention of Mr. Khanna also, therefore, fails. For reasons stated above, our answer to the first question is in the affirmative, and answers to the second and third questions are in the negative. Assessee shall pay the costs of the Commissioner.
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