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1997 (3) TMI 32 - MADRAS HIGH COURTExtract: ....... we consider that the Tribunal was correct in saying that in the present case, there is neither a charge nor the charge was created involuntarily and, therefore, interest payable on such charge is not deductible under section 24(1)(iv) of the Act. Accordingly, we answer the question referred to us in the negative and against the assessee. No costs.
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