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1998 (1) TMI 103 - ITAT COCHINExtract: .......terest is to be disallowed only on the basis of the amount of Rs. 5,45,000 only. The AO is directed to restrict the disallowance of the interest on a proportionate basis, considering the diversion of funds to the extent Rs. 5,45,000 only. 6. In the result, this appeal by the assessee is partly allowed. The AO will revise the assessment accordingly.
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