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1987 (8) TMI 49 - HC - Income TaxExtract: .......s or directors, we are unable to support the Revenue s contention that the expenditure is not wholly and exclusively incurred for the purpose of business qualifying for deduction under section 37 of the Income-tax Act. We accordingly answer the question in the affirmative, that is to say, in favour of the assessee and against the Revenue. No costs.
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