Bonds, grant of discounts, ascertained liability

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..... ) Referred: 37 Statute: Income - Tax Act, 1961 Reference is invited to Board's Office Memorandum No.10/49/67-ITA.II dated the 31st August, 1968. A question has been raised whether the loss re .....

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..... allowed as a deduction in the year of issue. Necessary instructions may please be issued to the Income-tax Officers working in your charge on the lines indicated above. - Circular - Trade Notice .....

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