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2014 (11) TMI 1081 - HC - Income TaxInterest disallowed under Section 57(iii) - interest on the same borrowing had been allowed in the immediately preceding assessment year ? - Held that:- Once the interest is allowed in the previous year and if there is no change in the condition then it can be disallowed in the current years’ assessment. Accordingly, the question which is posed in this appeal requires to be answered in favour of the assessee and against the department.
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