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1989 (4) TMI 38 - HC - Income TaxExtract: .......ax Act and is paid by companies under statute and, therefore, can be deducted under section 37 of the Income-tax Act. For all the aforesaid reasons, we answer the question in favour of the assessee and against the Revenue and hold that Rs. 2,26,280 be deducted from the profit and loss account of the assessee. No costs. J. M. SRIVASTAVA J. -I agree.
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