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1990 (8) TMI 128 - HC - Income TaxExtract: .......d here. One of the arguments advanced before us on behalf of the assessee was that payments made for goods purchased are not to be construed as expenditure. On this question, we keep the matter open to be decided in a more appropriate case. We answer the referred question in the negative, in favour of the assessee and against the Revenue. No costs.
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