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1978 (4) TMI 64 - HC - Income TaxExtract: .......tax. No doubt, the sum initially formed part of its trading receipt, but in the ultimate assessment it had to be allowed as a deduction. For the reasons as stated above we answer the question referred to us in the affirmative and in favour of the assessee. In the facts and circumstances there will be no order as to costs. C. K. BANERJI J.--I agree.
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