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2011 (5) TMI 1022 - ITAT CHANDIGARHExtract: .......f the case, we are satisfied that the loan standing in the name of Punjab Bio-tehnology park is guided by business expediency. The AO is directed not to disallow any interest attributable to the loans given by the assesseecompany to the said subsidiary company. 14. Appeal filed by the Department is partly allowed. Order pronounced on 13th May 2011.
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