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2010 (11) TMI 73 - HC - Income TaxLease agreements - genuine transaction and as such the lease rentals paid by the assessee is an allowable deduction - contribution made to Molasses Reserve Fund is a statutory fund - Held that: - there is no illegality in the Lease agreements - as the contribution made to Molasses Reserve Fund is a statutory fund is concerned, it covered by the judgment of the Supreme Court in the case of Commissioner of Income Tax V. New Horizen Sugar Mills (P) Ltd. (2002 -TMI - 40368 - SUPREME Court) - Appeal is dismissed
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