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2003 (3) TMI 730 - KERALA HIGH COURTExtract: .......est on the loan he took from the bank did not reduce his income by way of ‘interest on the fixed deposits placed by him in the bank’. In view of the authoritative pronouncement of the Supreme Court, the question referred to has to be answered in negative, that is, in favour of the revenue and against the assessee. We answer accordingly.
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