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1997 (4) TMI 121 - AT - Income TaxExtract: .......Jute Mfg. Co. Ltd. v. CIT 1971 82 ITR 363 would squarely apply. Hence, the said disallowance is deleted. 19. The last ground pertaining to the disallowance of Rs. 5,000 on account of guarantee commission was not pressed at the time of hearing and, hence, the same is dismissed as such. 20. In the result, the appeal of the assessee is partly allowed.
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