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1981 (2) TMI 68 - HC - Income TaxExtract: .......rt in CIT v. Kalyanji Mavji and Co. 1980 122 ITR 49 is in point. In the circumstances, we are of opinion that the question referred to us has to be answered by saying that the sum of Rs. 32,431 was deductible as revenue expenditure and that the Tribunal was justified in holding so. In the result, the reference is answered in favour of the assessee.
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