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1960 (3) TMI 67 - HC - Income TaxExtract: .......e, well known that many things-reserves, and so on-which are not allowable as deductions for Income Tax purposes are proper deductions when setting out the profits of the company. But although we do not agree with all the reasoning of the judge, we do agree with his conclusion. Appeal dismissed with costs. Leave to appeal to House of Lords Refused.
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