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2003 (4) TMI 576 - HC - Income TaxExtract: .......uestion is answered in the affirmative in favour of the revenue and we hold that the interest paid on delayed amount of the demanded income tax is not allowable deduction as business expenditure or otherwise under the Income-tax Act, 1961. 8. The appeal stands dismissed. However, in the circumstances of the case there shall be no order as to costs.
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