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1996 (1) TMI 49 - HC - Income TaxExtract: .......ibunal that the assessee is entitled to deduction under section 36(1)(iii) with regard to the interest paid on borrowed capital, which was utilised by the assessee s father for non-business purposes. In that view of the matter, we answer the question referred to us in the negative and in favour of the Department. There will be no order as to costs.
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