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2008 (2) TMI 108 - HC - Income TaxTribunal has recorded a finding that the expenses relating to obtaining fixed deposits are closely linked with the business requirement of the assessee, such expenses are allowable expenses - Tribunal was right in holding the same as revenue expenditure – expenditure incurred for issue of debentures are revenue expenditure, not capital expenditure – Held that even in respect of standby assets, which are kept ready for user, during the relevant assessment year are entitled to depreciation
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