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2013 (10) TMI 1423 - HC - Income TaxSet off the loss on account of forfeiture of licence fee against income - Held that:- Since the assessee was allotted the licence by the Excise Department, which was later on transfer to one Shankar Lal Patidar but the said licence was cancelled by the Excise Department and the amount of licence fees deposited by the petitioner was forfeited by the Excise Department, the assessee is entitled to set off on account of such forfeiture.
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