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2007 (8) TMI 417 - HC - Income TaxCapital or Revenue Expenditure- “Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in upholding the order of the Commissioner of Income-tax (Appeals) wherein he deleted the disallowance of Rs. 10,99,650 as a contribution to GIDC effluent channel project?” Held that- dismiss the appeal, that the contribution made by the assessee to the Gujarat Industrial Development Corporation Effluent Channel Project was allowable expenditure.
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