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1997 (2) TMI 30 - MADRAS HIGH COURTExtract: .......n this view of the matter, we hold that the contribution made by the assessee to the Panchayat for the upgradation of the elementary school should be regarded as an allowable business expenditure under the provisions of section 37(1) of the Act. Accordingly, we answer the question referred to us in the affirmative and against the Revenue. No costs.
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