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1968 (7) TMI 90 - Other - Income TaxExtract: .......ference which is consistent with the evidence is that at some time which cannot be pinpointed, but long before 1964, the company had appropriated the royalty agreement as a fixed capital asset. I can see no evidence to displace that inference. In these circumstances, I allow the appeal, and with it the profits tax appeal. Appeal allowed with costs.
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