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1982 (7) TMI 6 - HC - Income TaxExtract: .......the Tribunal was justified in holding that the expenditure of Rs. 1,20,250 was of a revenue nature and was allowable as a deduction in computing the total income of the assessee. In the view which we have taken, the question referred has to be answered in the affirmative and in favour of the assessee. The Commissioner to pay costs of the reference.
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