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1997 (2) TMI 13 - SC - Income Tax
Interest on deferred payment and Guarantee commission paid to the bank are revenue expenditure and hence allowable as deduction
The Supreme Court dismissed the appeal regarding the deduction of guarantee commission as a revenue expenditure. The court held that the guarantee commission paid by the assessee is a revenue expenditure and allowable as a deduction in computing total income. The appeal was dismissed based on previous decisions.
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