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1944 (12) TMI 5 - HC - Income TaxExtract: .......g the right is a capital expenditure and is not a permissible item of deduction under Section 10(2) (xii) of the Indian Income-tax Act, 1922. Our answer to the question is that the expenditure is not a revenue expenditure but a capital expenditure and as such it cannot be allowed as a deduction under Section 10(2)(xii) of the Indian Income-tax Act.
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