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1998 (3) TMI 167 - AT - Income TaxExtract: ....... liabilities relate. The CIT(A) has given finding that the penalty freight is an allowable liability. He has rightly relied on the case law as mentioned by him in his order. 7. Keeping in view the above observations, the order passed by the CIT(A) is vacated and the order of the AO is restored. 8. In the result the appeal of the Revenue is allowed.
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