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2006 (2) TMI 503 - AT - Income TaxExtract: .......refore, the issue is restored to the file of the Assessing Officer to decide the nexus (a) between the borrowed fund and applied fund (b) nature of the interest income of Rs. 3,88,982 received by the assessee. Hence, these grounds of appeal are set aside for statistical purpose. 18. In the result, the appeal filed by the assessee is partly allowed.
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