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1975 (11) TMI 40 - HC - Income TaxExtract: .......answered on the same lines, that is-- Question No. (1). The payment was not in the nature of penalty and was incidental to the carrying on of the assessee s business. Question No. (2). The payments were business expenditure allowable under section 37 of the Income-tax Act, 1961. The Commissioner will pay the costs of this reference to the assessee.
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