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2005 (8) TMI 286 - AT - Income TaxExtract: .......o pay interest is evenly and rationally spread over as per the terms of issue. Applying the abovesaid settled principles, we find that the provisions made by the assessee for meeting the liability incurred by it under the terms of issue of deep discount bonds is accrued liability and is therefore allowable. In the result, the appeals are dismissed.
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