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1993 (8) TMI 130 - AT - Income TaxExtract: .......ess there is corresponding income or likelihood of income which can be correlated to the expenditure, the claim as deduction cannot be allowed. 9. For all the reasons given above, I am of the opinion that the assessee is not entitled for the relief prayed for in this appeal. The appeal is found bereft of any valid grounds and hence it is dismissed.
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