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2014 (2) TMI 1273 - DELHI HIGH COURTRepayment of loan - application of income - loan money utilized for acquisition of the assets - as contended that the assessee had claimed that for the purpose of acquiring assets in question during the previous years the loan had been utilised and even successfully claimed depreciation on the assets so acquired - Held that:- As to whether assessee had claimed depreciation in any of the previous years or whether the application of money was shown to have been for the acquisition of asset with the loans obtained is a matter of fact. There is no specific finding. In these circumstances the matter is remitted for reconsideration by the Tribunal which shall also take into account the materials brought on record by the assessee that are not already on record under Rule 29 to facilitate a fuller appreciation and recording of facts in this regard. The appellant is also at liberty to place reliance on such additional material having regard to the circumstances.
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