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of <h1>Allahabad HC allows deduction for development expenses as liability in praesenti</h1> <h3>Commissioner of Income-Tax Versus Development Trust (P.) Ltd.</h3> Commissioner of Income-Tax Versus Development Trust (P.) Ltd. - TMI The Allahabad High Court ruled that development expenses were not a contingent liability but a liability in praesenti, allowing a deduction of Rs. 19,486. The decision was based on a similar case precedent. The appeal by the department was dismissed.
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