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1983 (6) TMI 22 - MADRAS HIGH COURTExtract: .......s a revenue expenditure which could be claimed as a deduction under s. 37, the same cannot be claimed as a deduction for the assessment year 1967-68, as it is not a liability which arose or accrued in that year. In this view of the matter, we answer the second question in the affirmative and against the assessee. There will be no order as to costs.
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