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1999 (12) TMI 51 - KARNATAKA HIGH COURTExtract: ....... the assessee and against the Revenue and it is held that the Tribunal is right in holding that the repayment of debt incurred by the assessee for the construction of the commercial building taken up by the assessee for the purpose of augmenting its funds, should be treated as application of the income of the assessee-trust for charitable purposes.
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