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1980 (11) TMI 102 - ITAT MADRAS-CExtract: .......e allowance of guarantee commission of Rs. 12,238 for obtaining benefit of deterred payment on instalment basis. The Madras High Court in the case of Sivakami Mills Ltd. (1979) 120 ITR 211 (Mad) found that such guarantee commission is admissible as a business deduction. Respectfully following the said decision, we have to dismiss the Deptl. appeal.
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