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1995 (7) TMI 25 - HC - Income TaxExtract: .......197879, 1979-80 and 1980-81, respectively, incurred by the assessee as royalty payments to Texmo Industries, Coimbatore, under the agreement dated January 1, 1977, between them are revenue expenditures (deductible under section 37(1) of the Income-tax Act, 1961) ? and we answer the said question in the affirmative and against the Revenue. No costs.
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