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1965 (12) TMI 9 - PUNJAB HIGH COURTLegal expenses - expenditure incurred in resisting an application by shareholders of the assessee-company under s. 153C of the Companies Act, questioning the appointment of some of the directors of the assessee-company, cannot be considered to be an expenditure laid out or expended wholly and exclusively for the purpose of the business of the company - not allowed as a deduction under s. 10(2)(xv)
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