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2003 (5) TMI 467 - AT - Income TaxExtract: .......lowing the judgment of the Madras High Court in the case of K.S. Subbiah Pillai and Co. India Ltd. (supra) we hold that only gross income has to be taken for the purpose of reducing 90 per cent and not the net interest income. We find no infirmity in the orders of the lower authorities on this issue. 13. In the result, the appeal is partly allowed.
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