1997 (2) TMI 13

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....Prasad, Advocate For the Respondent : Mrs. Janki Ramachandran, Advocate JUDGMENT Heard learned counsel for the parties. The short question that arises for our consideration in this appeal is whether the guarantee commission paid by the assessee is a revenue expenditure and hence allowable as deduction in computing the total income in the assessment year 1968-69. The High Court answered....