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1998 (7) TMI 72 - HC - Income TaxExtract: ....... an expansion of the business of the assessee and the borrowed capital having been utilised for the expansion of the existing business by putting up a new unit of the assessee, the interest paid on the borrowed capital would be a revenue expenditure. We answer the question in the affirmative, i.e., against the Revenue and in favour of the assessee.
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