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1992 (10) TMI 28 - RAJASTHAN HIGH COURTExtract: .......the view that the Income-tax Appellate Tribunal was not justified in coming to the conclusion that the interest on the outstanding balances in respect of supplies of goods would qualify for exemption under section 80P(2)(a)(i) of the Act. Accordingly, the reference is answered in favour of the Revenue and against the assessee. No order as to costs.
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