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1994 (12) TMI 9 - HC - Income TaxExtract: .......therefore, a payment for acquiring a profit-yielding asset and consequently in the nature of capital expenditure which is not allowable as a deduction under section 37 of the Act. Hence, we answer the question referred to us in the affirmative and in favour of the Revenue. Under the facts and circumstances of the case, we make no order as to costs.
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