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1965 (1) TMI 77 - HC - Income TaxExtract: ....... it comes within the mischief of section 2(m)(iii) of the Act. We are satisfied that the view taken by the Tribunal that these sums are deductible as debts owed on the respective valuation dates is correct. The question is answered accordingly. The assessee will be entitled to his costs. Counsel's fee ₹ 250. Question answered accordingly.
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