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1976 (11) TMI 50 - HC - Income TaxExtract: ....... clear that, on the facts of the case, no other conclusion was possible. In the light of the aforesaid discussion, we are clearly of the opinion that the amount of Rs. 4,300 paid by the assessee by way of penalty to the East Punjab Motion Pictures Association was not allowable as revenue expenditure. The reference is answered accordingly. No costs.
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