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1996 (2) TMI 15 - SC - Income TaxHigh Court was right in holding that no claim for a deduction could have been allowed merely because the appellant chose to debit his P/L A/c during its course. In fact, no payment was made by the appellant to any of the employees; this was merely an accounting entry. This entry did not represent any disbursement of money and, therefore, neither on the principles of the mercantile system nor on the basis of the cash system could the appellant validly claim this amount as a deduction.
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