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1974 (11) TMI 34 - HC - Income TaxExtract: .......e must be answered technically in favour of the assessee. But we want to make it clear that it would be open to the Tribunal now to consider the nature of the expenditure when it rehears the appeal under section 260(1) and, on recording, after hearing parties, a clear finding, decide the allowability of the same. There will be no order as to costs.
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