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2006 (6) TMI 200 - AT - Income TaxExtract: ....... by way of payment of premium on this policy and on surrender of which the assessee received in this very year a sum of Rs. 27,11,940. Therefore, the learned DR has rightly argued that since the provisions. contained the proviso to section is not applicable, such expenditure cannot be allowed. 5.2 In result, the appeal of the assessee is dismissed.
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