1989 (10) TMI 13

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....the disposal of M. C. C. No. 783 of 1987. This is an application under section 256(2) of the Income-tax Act, 1961, hereinafter referred to as "the Act". While framing the assessment for the assessment year in question, the Income-tax Officer rejected the claim made by the assessee that the expenditure incurred on account of royalty paid to Shri Jaikishan and Jagdishchander for the use of goodwil....