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1978 (2) TMI 80 - HC - Income TaxExtract: ....... of a trader for carrying on the business. If that is the position, then, in our opinion, the amounts in question were allowable as deduction as revenue expenses. In the aforesaid view of the matter, the question referred to us is answered in the negative and in favour of the assessee. Each party will pay and bear their own costs. GUHA J.--I agree.
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