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1986 (2) TMI 109 - AT - Income TaxExtract: .......omers. This expenditure in our considered opinion is squarely hit by the Explanation (2) to s. 37(2) inserted by Finance Act, 1983 with retrospective effect from1st April 1976. The authorities below were, therefore, justified in giving it the treatment that they did. This ground for each of assessment years is dismissed. 12. Appeals partly allowed.
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