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2007 (11) TMI 453 - AT - Income TaxExtract: .......Ltd. (supra), it is held that the assessee is not entitled to deduction in respect of payment made on redemption of debentures. The order of the CIT(A) is therefore, reversed and consequently the disallowance made by the Assessing Officer is restored. 17. In the result, appeal of the assessee is dismissed while the appeal of the revenue is allowed.
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