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1989 (9) TMI 21 - HC - Income TaxExtract: .......bunal held that the expenditure incurred in connection with the feasibility of a new business venture was not an admissible deduction. Upon the facts that are before us, we are in agreement that a travel agency business does not include hoteliering. We answer the second question in the affirmative and in favour of the Revenue. No order as to costs.
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