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1988 (3) TMI 32 - HC - Income TaxExtract: ....... must be treated as revenue expenditure. Accordingly, the question referred is answered as follows In so far as the premium amount of Rs. 5 lakhs is concerned, the expenditure is capital expenditure. In so far as the amount of Rs. 30,274 is concerned, the expenditure was of a revenue character. The Revenue will get its costs. Counsel s fee Rs. 500.
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