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1997 (11) TMI 46 - MADRAS HIGH COURTExtract: .......that case would equally apply to the case pertaining to the interest income as well. Accordingly, we hold that the Tribunal was not correct in holding that the tax can be levied only on the net interest income. Accordingly, we answer the question of law referred to us in the negative and in favour of the Revenue. There will be no order as to costs.
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