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1998 (3) TMI 108 - HC - Income TaxExtract: ....... which subsequently closed, but if the management is common, the interest paid on that loan cannot be denied, though one of the lines of business or any branch of business is closed for which the loan had been taken. In the result, we answer both questions Nos. (1) and (2) in the affirmative, i.e., in favour of the assessee and against the Revenue.
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