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<h1>High Court clarifies deductions under Income-tax Act Section 84: Only due and payable liabilities considered.</h1> The High Court of Bombay held that for relief under section 84 of the Income-tax Act, only liabilities due and payable on the relevant date should be ... New Industrial Undertaking The High Court of Bombay considered two questions regarding the computation of capital for relief under section 84 of the Income-tax Act. The court ruled that liabilities should be deducted, but only those that were due and payable on the relevant date. This decision was based on previous judgments.