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1989 (8) TMI 100 - AT - Income TaxExtract: ........ 99 lakhs and having regard to the system of accounting maintained by the assessee it is entitled to the full allowance in this year itself. 36. For the foregoing we hold that Rs.99 lakhs agreed to be paid as compensation to GEC is deductible while computing the taxable profits. The claim succeeds. 37. In the result, the appeal is allowed in part.
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