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2014 (4) TMI 694 - KARNATAKA HIGH COURTDisallowance of claim u/s 48(1) of the Act assuming that appellant had claimed deduction as business expenditure under Section 37 – Held that:- The matter has been remitted back to the Tribunal for fresh adjudication - as the assesse is ready to give up his claim of deduction u/s 37, this issue cannot be taken into remand proceedings - the claim of the assessee related to deduction u/s 48 of the act only needs to be considered – Decided in favour of Assessee.
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