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1987 (7) TMI 60 - HC - Income TaxExtract: .......unal was not right in holding that the amount of Rs. 20,270 was allowable as business expenditure in respect of the assessment year 1979-80. For all these reasons, our answer to the question referred to this court is in the negative and in favour of the Revenue. In the circumstances of the case, parties shall bear their own costs of this reference.
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