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1978 (4) TMI 85 - HC - Income TaxExtract: .......ndis Tool Co., the Tribunal was in error in holding that they were of a capital nature. We hold that the payments made to these companies in the relevant years under consideration were of a revenue nature and allowable under section 37 of the Income-tax Act, 1961. The questions are answered accordingly. Parties shall, however, bear their own costs.
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