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1961 (11) TMI 61 - HC - Income TaxExtract: .......s borrowed for purposes of investing in shares was an allowable items of expenditure under section 12(2) of the Act notwithstanding that no dividends were received from those shares. We accordingly answer the question in favour of the assessee. The assessee will be entitled to his costs. Counsel's fee ₹ 250. Question answered accordingly.
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