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1949 (9) TMI 32 - HC - Income TaxExtract: ....... payment or expenditure in question was made or incurred in the conduct of the business of the company and it is not a capital expense. I answer the question framed in the statement of case in the negative and I hold that in the facts of this case the sum of ₹ 22,500 is not taxable in the hands of the applicant company. Harries, C.J.-I agree.
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