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The High Court of Allahabad dismissed an application under section 256(2) of the Income-tax Act, 1961. The court found that the expenditure on the reconstruction of a hotel building was revenue expenditure and allowable, as it was for restoring the building to its earlier position and repairing fire damage, not fresh construction. The application was dismissed with no costs. (Case citation: 1991 (1) TMI 107 - Allahabad High Court)
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