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1989 (9) TMI 386 - CALCUTTA HIGH COURTExtract: .......l obligations cannot be allowed as business expenditure. 14. The question No. 4, therefore, must also be answered in the affirmative and in favour of the assessee. 15. In view of the above, all the four questions are answered in the affirmative and in favour of the assessee. There will be no order as to costs. Bhagabati Prasad Banerjee, J. I agree.
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