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1986 (4) TMI 13 - HC - Income Tax
Extract:
.......favour of the assessee, that under the facts and circumstances of the case, the amount of Rs. 1,66,763 required to be transferred to the reserve fund under section 43(2) of the Societies Act was an allowable deduction either as business expenditure or having been diverted by an overriding title. There will be no order as to costs in this reference.