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1991 (4) TMI 114 - HC - Income TaxExtract: .......me-tax Act does not apply to payments made for purchase of stock-in-trade as such payments do not amount to payment in respect of expenditure incurred. The question referred, therefore, is answered in the negative and in favour of the assessee. In view of the facts and circumstances of the case, we make no order as to costs. H. K. SEMA J. -I agree.
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