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1976 (6) TMI 19 - HC - Income TaxExtract: .......clusion of the Tribunal that the sum of Rs. 18,931 being the gratuity transferred by the assessee-bank to the Karur Vysya Bank was a deductible item of expenditure is erroneous in law. Hence, we answer the second question in the negative and against the assessee. Since the parties have succeeded and lost in part, there will be no order as to costs.
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