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1988 (5) TMI 2 - SUPREME COURT - Income Tax
Head Note / Extract:
Expenditure incurred by the assessee on providing water pipelines and electricity facility to municipality - capital expenditure - Whether, the expenditure of Rs. 2,09,459, or any portion thereof, incurred by the company in the accounting period relevant to the assessment year 1959-60 was allowable as deduction in determining the profits of the company for the assessment year 1959-60