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2003 (3) TMI 658 - AT - Income TaxExtract: ....... case (supra) are entirely distinguishable, as in that case there was no direct nexus in earning the interest and paying interest to the bank. Therefore, in view of these facts and circumstances and in view of the reasoning given by the CIT (Appeals), I confirm the order of CIT (Appeals). 6. In the result, the appeal of the department is dismissed.
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