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1975 (12) TMI 52 - HC - Income TaxExtract: .......he circumstances of the case, the sum of Rs. 50,000 paid to M/s. Hindustan Steel Ltd. cannot be disallowed as a deduction from the other business income of the assessee-company, having regard to section 43(5), Explanation 2 to section 28, and section 73(1) of the Income-tax Act, 1961. The Commissioner must pay the assessee s costs of the reference.
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