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2002 (10) TMI 44 - HC - Income Tax"Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is justified in holding that the 'excess' interest taken into account with reference to the loan to the clients over and above the amount permitted under law as per the directions of the Reserve Bank of India is exigible to tax under the Interest-tax Act ?" Tribunal has rightly rejected the assessee's contention. The question referred to us is therefore, required to be and is answered in favour of the Revenue and against the assessee.
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