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2008 (5) TMI 34 - HC - Income TaxBusiness expenditure – assessee was not required to pay to Govt. the sales tax collected by it under Tax Deferment Scheme – during this interregnum the amount of sales tax collected was deemed to have been actually collected by Govt and disbursed as loan to assessee – assessee had certificate issued, showing that certain amount of tax collected had been converted into loan, hence assessee is entitled to deduction, as the sum was to be treated as paid for purpose of section 43B
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